The European Securities and Markets Authority has published on January 30 a consultation paper proposing future guidelines for exchange-traded funds established as Undertakings for Collective Investment in Transferable Securities and other issues related to the Ucits regime. The Esma proposals cover both physical ETFs,…
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Esma proposes measures to handle problems arising from non-implementation of Ucits IV
Esma proposes measures to handle problems arising from non-implementation of Ucits IV The European Securities and Markets Authority (Esma) has published proposals on October 13 to deal with the fact that the majority of European Union member states have not yet approved legislation implementing the Ucits IV directive,…
The new Luxembourg fund law implementing UCITS IV
On December 17, 2010, the legislation implementing the latest European Union directive on Undertakings for Collective Investment in Transferable Securities – known to the world as Ucits IV – was signed into Luxembourg law, upholding the proactive, pace-setting approach that over the past two decades has enabled the…
UCITS IV guide – removing barriers to Europe’s single fund market
Dear readers of our UCITS IV blog, The European Union’s latest directive on undertakings for collective investment in transferable securities, known as Ucits IV, which was formalised on July 13, 2009,will take effect from July 1 this year, the deadline for transposition of the directive into the national law of EU member…
Luxembourg becomes first EU country to adopt Ucits IV Directive on December 16
Luxembourg has become the first European Union member state to transpose the Ucits IV Directive into national law. Various provisions of the legislation will come into force as of January 1 following approval of the law by the Luxembourg Parliament on December 16. Luxembourg was also the first EU country to incorporate…
Luxembourg finance minister confirms Ucits IV transposition before year-end
Luxembourg finance minister Luc Frieden has confirmed that the legislation transposing the European Union’s Ucits IV Directive into national law will be approved by Parliament before the end of this year, making it the first EU member state to implement the investment funds directive. Speaking at the opening of the PwC…
Minister says UK will launch tax-transparent fund vehicle
The UK has unveiled plans to launch a tax-transparent fund regime in a bid to take advantage of the inclusion of master-feeder structures in the European Union’s Ucits IV Directive, which will take effect from July 1 next year. The financial secretary to the Treasury, Mark Hoban, has announced that the UK government…
UCITS IV cross-border mergers – general overview
The Ucits IV directive covers both domestic and cross-border fund mergers of Ucits funds, involving all kinds of funds – contractual, corporate and unit trusts. Mergers can involve entire umbrella fund structures or only certain sub-funds. The merger techniques used may vary from one EU member state to another (not all…
UCITS IV cross-border distribution – general overview
The simplified notification procedure is designed to remove bottlenecks in the procedure for cross-border distribution of Ucits funds. Power to grant the ‘passport’ is held by the fund’s home state regulator, while the regulators of member states into which the fund is to be marketed have no power of veto or delay,…
Posted on 25 November 2010 in cross border distribution, cross-border distribtution, UCITS IV |
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UCITS IV management company passport – general overview
Under Ucits IV, a company authorised in its home member state to manage Ucits funds may manage funds domiciled in any EU member state. This means that for the first time the regulator of a Ucits fund may be different from that of the fund’s management company. The Ucits IV rules for management companies apply [...]
Posted on 25 November 2010 in management company passport, UCITS IV |
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About this blog
This blog aims to provide up to date news coverage and timely analysis of the implementation process and issues raised by the European Union’s Ucits IV Directive. Bookmark this page to find regular updates on progress in transposing the directive into the national law of EU member states, analysis of its implications for the European and global fund industry and the full text of key documents, as well as to give your views on topics related to the directive.
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Olivier Sciales
- Partner - Luxembourg
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