Public consultation on UCITS (26.07.2012)
The Commission services launched a UCITS consultation that focuses on UCITS product rules, extraordinary liquidity management tools, depositary passport, money market funds, and long-term investments.
Proposal for a directive amending Directive 2009/65/EC
On 3 July 2012 the Commission adopted a proposal for a directive amending Directive 2009/65/EC as regards depositary functions, remuneration policies and sanctions.
On 1 July 2010 the Commission completed a programme of improvements to the EU framework for investment funds by adopting four implementing acts (two Directives and two Regulations) under Directive 2009/65/EC.
- Commission Regulation (EU) No 583/2010 of 1 July 2010 implementing Directive 2009/65/EC of the European Parliament and of the Council as regards key investor information and conditions to be met when providing key investor information or the prospectus in a durable medium other than paper or by means of a website
- Commission Regulation (EU) No 584/2010 of 1 July 2010 implementing Directive 2009/65/EC of the European Parliament and of the Council as regards the form and content of the standard notification letter and UCITS attestation, the use of electronic communication between competent authorities for the purpose of notification, and procedures for on-the-spot verifications and investigations and the exchange of information between competent authorities
- Commission Directive 2010/42/EU of 1 July 2010 implementing Directive 2009/65/EC of the European Parliament and of the Council as regards certain provisions concerning fund mergers, master-feeder structures and notification procedure
- Commission Directive 2010/43/EU of 1 July 2010 implementing Directive 2009/65/EC of the European Parliament and of the Council as regards organisational requirements, conflicts of interest, conduct of business, risk management and content of the agreement between a depositary and a management company
The Commission Regulation on key investor information should be read alongside the guidelines published by CESR (the Committee of European Securities Regulators) on 1 July 2010.
On 13 July 2009 the European Union adopted Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS). This directive replaces the previous UCITS Directive 85/611/EEC.
- Text of the directive as adopted by the European Parliament and the Council
- Original proposal from the Commission: