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UCITS V: Difference between revisions
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{{tag|UCITS V}} is the | {{tag|UCITS V}} is the latest installment of the {{tag|UCITS}} saga — which is to European legislation what the appendices to the Lord of the Rings are to fantasy literature. It can be found at {{eudirective|2014|91|EU}}. It augments and amends {{t|UCITS IV}}, much of which is still in force. {{t|UCITS IV}} has specific implications for {{tag|Depositaries}} and their {{tag|sub-custodian}}s (known in the legislation as "delegates"). Much of this was prompted by [[Madoff]]<ref>I derive some perverse enjoyment from the fact that [[Madoff]] is a broken link on this site. Click on it and there’s nothing there.</ref>. | ||
Here's from an official EU [http://ec.europa.eu/finance/investment/docs/ucits-directive/20120703-citizens-summary_en.pdf idiot's guide] to the legislation: | Here's from an official EU [http://ec.europa.eu/finance/investment/docs/ucits-directive/20120703-citizens-summary_en.pdf idiot's guide] to the legislation: | ||
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*Comprehensive rules on pay policies. | *Comprehensive rules on pay policies. | ||
*minimum penalties across europe to be used when {{tag|UCITS}}, their managers or depositaries breach key requirements. | *minimum penalties across europe to be used when {{tag|UCITS}}, their managers or depositaries breach key requirements. | ||
{{seealso}} | |||
*{{tag|UCITS}} | *{{tag|UCITS}} | ||
*[[Sub-custodian]] | *[[Sub-custodian]] | ||