On 13 January 2009, the European Parliament adopted a proposal for a Directive containing amendments to the UCITS Directive (85/611/EEC).
The Commission also requested CESR’s assistance on the content of the implementing measures to be taken pursuant to the revised UCITS Directive. The request for assistance is split into three parts:
- Part I – Request for technical advice on the Level 2 measures relating to the management company passport.
- Part II – Request for technical advice on the Level 2 measures relating to key investor information supplement to the Commission’s April 2007 ‘request for assistance on key investor disclosures for UCITS’.
- Part III – Request for technical advice on the Level 2 measures relating to fund mergers, master-feeder structures and the notification procedure.
On 17 February 2009, the Committee of European Securities Regulators (CESR) published a call for evidence on possible implementing measures of the future UCITS Directive.
Comments on the call for evidence are due by 31 March 2009.