On February 25, the UK government published the Undertakings for Collective Investment in Transferable Securities Regulations 2016 (Regulations) along with an explanatory memorandum and transposition table. The Regulations implement provisions in the EU Undertakings for the Collective Investment of Transferable Securities V Directive (UCITS V) in relation to depositaries and sanctions, among other provisions.The Regulations set out amendments to the Financial Services and Markets Act 2000 (FSMA 2000) and the Undertakings for Collective Investment in Transferable Securities Regulations 2011 (UCITS Regulations), among others.
Continue Reading UK Government Publishes Implementing Regulations for UCITS V