On 19 March 2007 the Commission published an Interpretative Communication on the respective powers retained by the Home Member State and the Host Member State in the marketing of UCITS pursuant to section VIII of the UCITS Directive. In the Interpretative Communication the Commission looks at the responsibilities of the Home Member State and the Host Member State. In particular the Commission refers to Article 44(1) UCITS Directive which provides:

"A UCITS which markets its units in another Member State must comply with the laws, regulations and administrative provisions in force in that State which do not fall within the field governed by this Directive.”

View Interpretative Communication from the Commission: Respective powers retained by the Home Member State and the Host Member State in the marketing of UCITS pursuant to section VIII of the UCITS Directive, (PDF 156KB), 19 March 2007