EUROPEAN UNION: Publication of UCITS V Directive

Tuesday September 2 2014

On August 28, 2014 the Directive 2014/91/EU of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to Undertakings for Collective Investment in Transferable Securities (UCITS) as regards depository functions, remuneration policies and sanctions (“the UCITS V Directive”) was published in the Official Journal of the European Union.

Directive 2009/65/EC of the European Parliament and of the Council is going to be be amended in order to take into account market developments and the experiences of market participants and supervisors gathered so far, in particular to address discrepancies between national provisions in respect of the duties and liability of depositaries, remuneration policy and sanctions.

The UCITS V Directive is to enter into force on September 17, 2014.

Click on the above link for the Directive.