On February 25, the European Parliament published a press release announcing that political agreement has been reached with the Council of the EU on the proposed UCITS V Directive.
The press release notes the following areas of agreement:
- Payment of fund managers.
- The appointment of a depository by UCITS or UCITS management companies.
- Provision of penalties by EU member states for funds failing to comply with national UCITS authorization and reporting rules. Press Release.
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