On 11 February 2016 Better Finance sent an open letter to the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) and to the Commissioner for Financial Stability, Financial Services and Capital Markets Union to request that the European Securities and Markets Authority (ESMA) follow up on its release of the results of its investigation into falsely active equity UCITS funds, and actually disclose the names of the hundreds of funds that it highly suspects of engaging in “closet indexing” and therefore of misleading investors.
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