Undertakings for Collective Investment in Transferable Securities

Undertakings for Collective Investment in Transferable Securities

Also called UCITS. A system intended to allow mutual funds and other investment vehicles to operate throughout the European Union. That is, UCITS aims to unify investment regulation throughout Europe so that a company registered in one country can conduct operations in other countries as well. UCITS has been marginally successful, though differing regulations intended to protect local investment companies have remained in place. UCITS was first adopted in 1985.
References in periodicals archive ?
Undertakings for collective investment in transferable securities are investment funds that were established in 1985 under Directive 85/611/ECC.
This is a mandatory measure under the new directive on undertakings for collective investment in transferable securities, Ucits IV.
An EC directive on cross-border sales of a particular securities product--open-ended unit trusts or "undertakings for collective investment in transferable securities" (UCITS)--will become effective in October 1989.
The directives on undertakings for collective investment in transferable securities - UCITS - were put through intensive consultations and we achieved a win-win result for the industry and for the European Commission.
To protect consumers who place money in investment funds offered by undertakings for collective investment in transferable securities (UCITS), the European Commission proposes to tighten obligations and the liability of the depositaries of these financial products.
The third proposal concerns a new revision of Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions on undertakings for collective investment in transferable securities (UCITS).
the proposal amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS - 4440); and 3.
Many coordinated funds have begun investing in derivatives and fund managers, taking advantage of the flexibility offered by the latest Undertakings for Collective Investment in Transferable Securities (UCITS III) Directive, are implementing more innovative strategies.
Ahead of publishing a final position in May 2007, the Committee of European Securities Regulators called for responses to an issue paper on whether hedge fund indices (HFI) can be classified as financial indices for Undertakings for Collective Investment in Transferable Securities or UCITS.
The Commission has proposed a package that will extend comitology to two new areas, and widen it in the securities field to include all undertakings for collective investment in transferable securities (UCITS).