meta_id 3150608

On May 12, 2026, Finansinspektionen (FI), Sweden's financial supervisory authority, announced that it will follow guidelines issued by the European Securities and Markets Authority (ESMA) concerning liquidity management tools for fund companies and open alternative investment funds (AIFs). ESMA published the guidelines on liquidity management tools, which apply from April 16, 2026. FI intends to follow the guidelines from the date Swedish regulations on liquidity management tools enter into force, which according to the legislative proposal will be July 1, 2026. For funds that existed before April 16, 2026, the guidelines will apply from April 16, 2027. FI considers ESMA guidelines directed at competent authorities or financial market participants to be equivalent to Swedish general advice. Under Regulation 1095/2010/EU establishing ESMA, competent authorities and financial market participants are required to seek to comply with these guidelines using all available means. This adoption ensures consistency in liquidity management practices across the European financial market and provides fund companies and open AIFs with clear expectations regarding liquidity management tool implementation. The staggered implementation timeline allows existing funds a transition period to align their practices with the new requirements. **References:** Finansinspektionen (May 12, 2026). FI kommer att följa riktlinjer om verktyg för likviditetshantering. Available at: https://www.fi.se/ ESMA Guidelines on Liquidity Management Tools for UCITS and AIFs