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Tackling remaining obstacles to a fully developed investment market across the EU, whilst ensuring a high level of investor protection.

Amendments to the EU rules governing collective investment funds, notably in the areas of Money Market Funds, long-term investment funds and certain aspects of the UCITS Directive (Undertakings in Collective Investments in Transferable Securities 2009/65/EC) such as eligible assets and use of derivatives, efficient portfolio management (EPM) techniques, OTC derivatives and depositaries.

Directive 2009/65/EC, which replaces the previous UCITS Directive 85/611/EEC, provides for common rules for setting up and operating investment funds in the EU. Fund managers that comply with these rules may benefit from the right to offer their services cross-border. Investment funds authorised in accordance with the provisions of this Directive may be distributed to investors across the EU after following a defined procedure for notifying the relevant competent authorities.

The UCITS rules have constituted Europe's regulatory framework for asset managers and investors since 1985. To keep the UCITS framework topical and in line with the evolution of investment markets, some reforms are envisaged.

Recent international work on shadow banking has identified certain areas that require closer scrutiny: money market funds and the use of securities lending or repurchase arrangements (repos). The short-termism of the financial markets is often not in line with the financing needs of the "real economy". Fostering a culture of long-term investment in Europe is therefore an important challenge. The intention is to address a number of concerns relating to the efficiency, competitiveness and integration of the market for UCITS funds in order to preserve the UCITS attractiveness for both professional and retail investors.

Directive on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions

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UCITS - 202213 articles out of 13.

UCITS - 20215 articles out of 5.

UCITS - 20207 articles out of 7.

UCITS - 201914 articles out of 14.

UCITS - 201814 articles out of 14.

UCITS - 20178 articles out of 8.

UCITS - 201616 articles out of 16.

UCITS - 201517 articles out of 17.

UCITS - 201410 articles out of 10.

UCITS - 201314 articles out of 14.

UCITS - 201238 articles out of 38.

UCITS - 201128 articles out of 28.

UCITS - 20109 articles out of 9.

2009 UCITS
2009-10-29 CESR proposes requirements for management company passport and improved investor disclosures for UCITS
2009-10-27 RBC Dexia and KPMG survey shows asset managers embrace arrival of UCITS IV
2009-08-05 CESR addendum to consultation on KI for UCITS – computation of synthetic risk
2009-07-22 The Council adopted the UCITS IV directive.
2009-07-08 CESR consults on UCITS management company passport
2009-07-08 CESR consults on Key Information Document disclosures for UCITS
2009-07-06 Commission consults on UCITS depositary function
2009-06-15 CESR consults on Risk Measurement for calculation of UCITS’ global exposure
2009-05-16 FBE concerned about calculation of a synthetic indicator for KID for UCITS
2009-04-02 ALFI contribution to the CESR call for evidence on UCITS
2009-03-16 CESR consults on Key Information Document disclosures for UCITS
2009-02-28 CESR final advice on risk management principles for UCITS
2009-02-17 CESR consults on possible implementing measures of the future UCITS directive
2009-01-26 Commission to clarify responsibilities of UCITS depositaries following Madoff scandal
2009-01-13 EP adopted UCITS directive

Prior Years Reports

UCITS - 200820 articles out of 20.

UCITS - 200712 articles out of 12.

UCITS - 200616 articles out of 16.

UCITS - 200519 articles out of 19.

UCITS - 20046 articles out of 6.

UCITS - 20034 articles out of 4.

UCITS - 20022 articles out of 2.