Abstract
This article considers the impact of the European Union’s new Undertakings for the Collective Investment in Transferable Securities Directive (UCITS V) on investor protections and the system’s alignment with the EU’s Alternative Investment Fund Managers Directive (AIMFD). It scrutinizes the historical development of the UCITS Directives, the pivotal role of the depositary in the UCITS fund industry and the key regulatory changes of UCITS V. It concludes that the UCITS V provides greater protection for investors and should encourage confidence in UCITS products.
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