The Council of the EU has published an information note from the General Secretariat of the Council to the Permanent Representatives Committee concerning the outcome of the European Parliament’s first reading of the proposed UCITS V Directive.

The note states that the Parliament’s first reading position reflects what had been previously agreed between the institutions and that the Council should therefore be in a position to approve the Parliament’s position. UCITS V can then be formally adopted using the wording corresponding to the Parliament’s position.

View Information 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 (UCITS) as regards depositary functions, remuneration policies and sanctions – outcome of the European Parliament’s first reading, 16 April 2014