On 27 October 2015, the Dutch Minister of Finance published a first draft of the Decree implementing the UCITS V Directive (2014/91/EU) (Implementatiebesluit wijziging richtlijn icbe’s, the Implementation Decree) for consultation. The Implementation Decree will amend the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit Gedragstoezicht financiële ondernemingen), the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels Wft), the Decree on Market Access of Financial Undertakings (Besluit Markttoegang financiële ondernemingen Wft) and the Decree on Administrative Fines in the Financial Sector (Besluit bestuurlijke boetes financiële sector).

The Implementation Decree together with the Act implementing the UCITS V Directive (Implementatiewet wijziging richtlijn icbe’s), which was published for consultation back in March and April 2015, aim to increase investor confidence in undertakings for collective investment in transferable securities (UCITS) by strengthening the requirements on the duties and liability of depositaries (bewaarders) as well as the requirements relating to the remuneration policy of a UCITS manager.

View the Implementation Decree (Dutch only), 27 October 2015. The deadline for comments on the Implementation Decree is 23 November 2015.