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ARTICLE · 02 NOVEMBER 2012

UCITS Key Investor Information Documents

Mason Hayes & Curran LLP
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A Questions and Answers paper (the "Q&A paper") on the Key Investor Information Document (the "KIID") to be produced by each UCITS in accordance with UCITS IV has been released by the European Securities and Markets Authority ("ESMA").

European UnionCorporate/Commercial Law

A Questions and Answers paper (the "Q&A paper") on the Key Investor Information Document (the "KIID") to be produced by each UCITS in accordance with UCITS IV has been released by the European Securities and Markets Authority ("ESMA").

The purpose of the Q&A paper is to help supervisory authorities in member states to adopt common approaches and practices when applying the provisions of the UCITS Directive and its implementing measures. It is hoped that the Q&A paper will also provide clarity to UCITS management companies and the boards of self-managed investment companies ("SMICs") when they are considering and implementing the content of the UCITS Directive in this regard. The Q&A paper will be updated on a continuous basis as further questions are submitted to ESMA for review.

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