On 13 January 2009, the European Parliament adopted a proposal for a Directive containing amendments to the UCITS Directive.
The Commission 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 related to the management company passport.
- Part II – Request for technical advice on the level 2 measures related 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 related 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. The call for evidence closed on 31 March 2009. CESR has now published the responses to the call for evidence.