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ARTICLE · 08 FEBRUARY 2016

UCITS V – ESMA Issues Q&As On Updating Fund Documentation

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On 1 February 2016, the European Securities and Markets Authority (ESMA) released its questions and answers (Q&As) on the new UCITS V Directive.

European UnionFinance and Banking
Mark Caruana Scicluna
Mark Caruana Scicluna
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On 1 February 2016, the European Securities and Markets Authority (ESMA) released its questions and answers (Q&As) on the new UCITS V Directive. To the delight of stakeholders, ESMA has given UCITS and UCITS Management Companies considerable breathing space to update fund documentation ahead of UCITS V.

The Q&As are a handy tool which promote common supervisory approaches across EU Member States. This latest version combines all Q&As previously issued by ESMA on the UCITS regime and can be accessed by clicking here.

We consider the key aspects of the Q&As on UCITS V below.

The changes introduced by UCITS V – in the three areas of depositaries, remuneration and sanctions – enter into force on 18 March, 2016. The MFSA's consultation period on the transposition of UCITS V closed on 15 January, 2016.

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