UCITS V Directive adopted by the European Parliament
On 4 December 2013, the Permanent Representatives Committee agreed on behalf of the council its own position on the proposal directive of the European Parliament and of the European Council amending the UCITS IV Directive. Wildgen published a short article titled ‘UCITS V Proposal Directive’ in that respect on 17 January 2014.
Recently, on 15 April 2014, the European Parliament adopted in plenary session an amending Directive 2009/65/EC on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions (the so-called UCITS V Directive).
The new rules considerably increase the protection of investors vis-à-vis managers of UCITS funds and their depositaries…
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The UCITS V Directive focuses on three main areas — which are presented in this briefing from Wildgen.