The Undertakings for Collective Investment in Transferable Securities Regulations 2016 [SI 2016/225] have been published, which implement, in part, UCITS V in the UK. The Regulations implement provisions in UCITS V relating to depositaries, including amendments to the UCITS Regulations 2011 relating to the liability of a depositary to the UCITS, or the UCITS' management company, in the case of a loss of a financial instrument held in custody, or in respect of other losses suffered as a result of the depositary’s negligent or intentional failure to properly fulfil its obligations under UCITS V. The Regulations also implement provisions relating to sanctions and impose certain requirements on the FCA relating to information and reporting.