UCITS IV News

• UCITS IV News
  The deadline of 1 July 2011 for a full transposition into national legislation of the 2009 UCITS IV Directive and its implementing texts of 2010 has expired over 4 months ago. Can the big wave of fund rationalisation and the quest for more efficiency really begin? Has the registration for cross-border fund distribution become a piece of cake?
  December 2011
  
  
• UCITS IV News
  After a short interlude, our UCITS IV News is back with hot information on the implementation status of the new directive and the manner in which European countries will transpose the many texts comprising UCITS IV.
  May 2011
  
  
• Flash News: Ready for UCITS IV? Time is getting short for management companies and self-managed SICAVs!
  The CSSF Circular 11/508 of 15 April 2011, regarding new provisions applicable to Luxembourg UCITS management companies and to self-managed SICAVs requires an update of their application file, to be submitted to CSSF by 1 June 2011.
  April 2011
  
  
• Flash News: Luxembourg - the first European country to implement UCITS IV!
  After the adoption of the UCITS IV Directive in 2009 and the related Level II measures this summer, the Luxembourg Parliament voted on 16 December 2010 a new law (the “New Law”)* that will repeal the existing Law of 20 December 2002 and which is aimed at: Implementing the so-called “UCITS IV” Directive, i.e. the EU Directive 2009/65/CE; Reinforcing the competitiveness of Luxembourg by introducing changes in the existing Luxembourg regulatory and tax frameworks applicable to UCITS and other UCIs.
  December 2010
  
  
• Flash News: CESR's Guidelines
  Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS
  In February 2009, the Committee of European Securities Regulators ("CESR") was mandated by the European Commission to provide a technical advice on the content of the implementing measures concerning the UCITS IV Directive. As part of this mandate, CESR released a technical advice in October 2009, which included implementing measures for the calculation of UCITS global exposure. In this advice, CESR recommended that additional guidelines should accompany the implementing measures.
  August 2010
  
  
• Press Release: L'heure d'une directive UCITS V a-t-elle sonné ?
  Dans une nouvelle publication consacrée aux Hedge Funds UCITS, PricewaterhouseCoopers donne la parole aux responsables des autorités de contrôle européennes sur le sujet. Des données chiffrées et des points de vue viennent enrichir le débat sur l’éventuelle adoption d’une réglementation « UCITS V ».
  May 2010
  
  
• Press Article: L'industrie des fonds d'investissement à l'aube de changements réglementaires conséquents
  Deux nouvelles réglementations européennes régissant les Organismes de Placement Collectif en Valeurs Mobilières (OPCVM) et les Fonds Alternatifs entreront en vigueur prochainement. Des textes que le législateur luxembourgeois devra transposer dans les meilleurs délais afin de permettre à la Place financière du pays de les exploiter positivement.
  January 2010
  
  
• Press Article: UCITS IV et son entrée en vigueur : quels challenges, pour la Commission Européenne et pour l’industrie des fonds d’investissement au Luxembourg?
  La nouvelle directive européenne UCITS IV, a été adoptée par le Parlement Européen et le Conseil de l’Union Européenne le 22 juin dernier. Cette dernière législation en date vise à améliorer le fonctionnement du le marché européen de distribution des fonds et influencera profondément le futur de la Place financière luxembourgeoise. Il est donc d’ores et déjà temps pour les acteurs de se préparer à l’entrée en vigueur de cette mesure !
  September 2010
  
  
• Press Release: What does UCITS IV mean from a practical point of view?
  On June 19, 2009, the Council of the European Union adopted the UCITS IV Directive that recasts the existing UCITS Directive 85/611/EEC. Although the related implementing measures are still under discussion at CESR level, UCITS IV is an important step forward likely to have implications on the business model of promoters of UCITS.
  July 2009
  
  
• Press Release: PricewaterhouseCoopers Luxembourg présente son nouveau site Internet et un podcast consacré à UCITS IV S’inscrivant dans la lignée des précédentes vidéos de la série « To the point » lancée en août 2007, ce 8^ème épisode dédié à la directive « UCITS IV » propose également l’éclairage d’experts de PricewaterhouseCoopers sur les évolutions actuelles du marché et les nouveautés réglementaires. July 2009
  
  
• Flash News: UCITS IV News
  While our previous edition of this newsletter a year ago was still cautiously called "UCITS III / IV" News, we can now safely go for a bold "UCITS IV" in our title! While technically not fully complete (the Council still has to vote the text adopted by the EU Parliament on January 13, 2009), the adoption of this Directive, which has fuelled so much heated debate, has eventually turned out to be the natural thing to do. April 2009
  
  
• Press Article: Nouvelle donne dans le domaine des OPCVM d'ici 2011
  Alors que la réglementation européenne dans le domaine des OPCVM1 a été sensiblement amendée en 2001 suite à l’entrée en vigueur des directives européennes « UCITS III », le Conseil de l’Union Européenne devrait adopter sans surprise une nouvelle directive dans les prochaines semaines. Le calendrier prévoit une transposition dans chaque Etat Membre le 1^er juillet 2011 au plus tard. Tous les initiés parlent déjà de « UCITS IV ». Mais que cache précisément cet acronyme? Mars 2009
  
  
• Press Article: UCITS IV on its way to final adoption!
  On January 13, 2009, the European Parliament approved, in plenary session, a new proposal for a European Directive, commonly denominated “UCITS IV” by the financial industry, with the view to amending the existing UCITS Directive 85/611/EEC. UCITS IV will definitively be adopted by the European Council soon and should substantially enhance the market efficiency of UCITS and investor protection. March 2009
  
  
• Flash News: UCITS IV on its way to the European Parliament!
  On December 2, 2008, the ECOFIN Council has endorsed the latest draft of the new UCITS Directive, opening the door to its final review and likely adoption by the EU Parliament in the early months of 2009. Despite the robust opposition of certain countries to the inclusion of one of the components of this otherwise long-awaited reform, i.e. the Management Company Passport ("MCP"), driven primarily by a perceived risk to sound investor protection, a working group of the EU Council currently presided by France has continued to work on the Commission’s July 2008 proposal for a Directive and drafted entirely new sections on the MCP. December 2008
  
  
• Flash News: UCITS III/IV News
  We all thought UCITS IV was just around the corner…yet here we stand, mid-March, with not even an official proposal to look at!! March 2008