The Council of the EU has published an “I” item note from its General Secretariat to the Permanent Representatives Committee (Part 1) (COREPER) setting out the final compromise text of the proposed UCITS V Directive. The Council now invites COREPER to:
- approve the final compromise text of UCITS V; and
- confirm that the Council’s Presidency can indicate to the European Parliament that, if the Parliament adopts its position at first reading (subject, if necessary, to revision of the text by legal linguists), the Council will approve the Parliament’s position.
View I item note: Proposal for a Directive of the European Parliament and of the Council amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities as regards depositary functions, remuneration policies and sanctions – approval of the final compromise text, 13 March 2014