Letting simplicity show the way

regulation

Ucits III aims to enable fund management companies to operate cross border and invest in more complex instruments, but this will not be fully achievable until the legislation is better implemented

Since legislation for Ucits III - the European Union (EU) directive for regulating retail funds across Europe - began in 2002 it has been at the heart of an indicatively European debate. On paper, the new regulatory regime makes it possible for Ucits authorised funds to invest in a broader range of assets and widens the scope for management companies to operate throughout Europe. In practice, the directives are open to interpretation by individual member states, with national interests and cultural differences creating ambiguity and stifling cross-border activity. Ucits III is made up of ...