There remains considerable confusion as to how exactly the MiFID and UCITS directives will interact in the long run. This confusion can be traced to apparently contradictory at first sight, or, in the least, ambiguous, wording in the MiFID as to how its provisions relate to collective investment schemes. In reality, the UCITS-MiFID nexus is a web of dizzying complexity, on which this paper attempts to shed light.
© Graham Bishop
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