On 29 March 2019, the European Securities and Markets Authority updated its Q&As on:

• the UCITS Directive. Specifically, the Q&As clarify the UCITS KIID benchmark and past performance obligations;
• the Alternative Investment Fund Managers Directive. New Q&As have been added on the calculation of leverage; and
• the Market Abuse Regulation. New Q&As have been added dealing with the: (i) meaning of parent and related undertakings; and (ii) disclosure of inside information concerning emission allowances, referring to installations of other undertakings of the group of the emission allowances market participant.