Undertakings for Collective Investment in Transferable Securities Directive (UCITS)
Description
The 1985 UCITS Directive established a set of EU wide rules governing collective investments schemes (in the UK unit trusts and oeics). Funds set up in accordance with these rules could then be sold across the EU subject to local tax and marketing laws.
Two directives amending the 1985 directive entered in to EC law in January 2002. The first amending directive broadens the range of assets harmonised funds can invest in, the second introduces harmonised rules for the prudential supervision of the firms that manage UCITS and introduces a harmonised marketing document, the simplified prospectus.
External Links
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SA consultation document on UK implementation of the first amending Directive
Contact
For any details on process and developments, please use contact details below:
In relation to UK Implementation
Email: FSA
Phone: +44(0)20 7676 5046
Fax: +44(0)20 7676 9719
In relation to EU single market policy
Email: European Financial Services
Phone: +44(0)207 270 4356
Fax: +44(0)207 270 4322