The Undertakings for Collective Investment in Transferable Securities Regulations, SI 2016/225, transpose into UK law certain provisions of the ‘UCITS V’ directive. These include the liability of depositaries for losses, reporting duties of the Financial Conduct Authority, and sanctions for breach of the directive. Minor amendments are made relating to processing of personal data and protecting whistle-blowers. The regulations come into force on 18 March 2016.
The Undertakings for Collective Investment in Transferable Securities Regulations, SI 2016/225, transpose into UK law certain provisions of the ‘UCITS V’ directive. These include the liability of depositaries for losses, reporting duties of the Financial Conduct Authority, and sanctions for breach of the directive. Minor amendments are made relating to processing of personal data and protecting whistle-blowers. The regulations come into force on 18 March 2016.
