ECON has published its draft report on the proposals to amend the UCITS Directives in respect of depository functions, remuneration and sanctions (UCITS V). The changes:
- extend the range of individuals subject to the remuneration rules and limit the circumstances in which fixed variable remuneration is allowed;
- clarify the circumstances in which investors may lose out following depository failure; and
- bring the proposals into line with the Alternative Investment Fund Managers Directive (AIFMD).
(Source: ECON Publishes UCITS V Report)