On June 13, the UK government published in draft the Undertakings for Collective Investment in Transferable Securities Regulations 2011 implementing the UCITS IV Directive (2009/65/EC) into UK legislation and regulation. Assuming that they are approved by Parliament, the Regulations will be made and come into force on July 1. Changes to the FSA rules in relation to UCITS IV will be published in the near future.

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