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ARTICLE · 17 SEPTEMBER 2015

UK Regulator Consults On Implementation Of Recent Changes To UCITS V Directive

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On September 3, 2015, the FCA issued a consultation paper on the implementation of the Undertaking for Collective Investment in Transferable Securities V Directive and other changes to the FCA Handbook that affect investment funds.

United KingdomFinance and Banking
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On September 3, 2015, the FCA issued a consultation paper on the implementation of the Undertaking for Collective Investment in Transferable Securities V Directive and other changes to the FCA Handbook that affect investment funds. The consultation deals with three sets of proposals for the regulation of authorized investment funds and seeks views on: (i) the rules and guidance that will give effect to the most recent changes made to the UCITS V Directive; (ii) changes that are to be made to the Handbook to ensure that these work well in conjunction with the European Long-Term Investment Funds Regulation, a new kind of fund vehicle which aims to contribute to financing the sustainable growth of the EU's economy through targeting long-term investment, which becomes applicable on December 9, 2015; and (iii) other changes to the Handbook relating to authorized investment funds, including clarification for some of the FCA's reporting requirements and ambiguities to certain

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