UCITS V Adopted

We reported in a previous article that on April 15th 2014 the European Parliament adopted the Directive of the European Parliament and of the Council 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 depositary functions, remuneration policies and sanctions (UCITS V Directive).

Since then, the Council of the European Union (Council) has formally approved, on July 23rd 2014, the text with the required qualified majority. On August 28th 2014 the UCITS V Directive was...