In September the FCA published it consultation paper (CP 15/27) on the implementation of UCITS V – see Regulatory Roundup 68 for further details.
HM Treasury has now published a consultation on UCITS V together with a draft Statutory Instrument “The Undertakings for Collective Investment in Transferable Securities Regulations [2016]”.
Although implementation of UCITS V will be achieved through changes to the Handbook, changes to UK legislation e.g. FSMA will also be required.
Comments are invited until 17 December 2015.
As mentioned in the Regulatory Roundup 68 article, Member States have to transpose the Directive into national law by 18 March 2016.
