Regulatory AlertsImplementation of the UCITS V Directive
The UK Financial Conduct Authority (FCA) issues final rules and guidance to implement the UCITS V Directive and amend the regulatory Handbook for investment fund managers and depositaries. The changes introduce mandatory remuneration principles, enhanced investor transparency obligations, and revised eligibility and capital requirements for UCITS depositaries, alongside new rules for non-UCITS retail scheme managers and guidance for alternative investment fund depositaries. These regulatory updates take effect on 18 March 2016, with certain transitional provisions extending compliance deadlines up to two years for affected management companies, custodians, and industry advisers.
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