FCA publishes PS16/2 on the Implementation of the UCITS V Directive

The FCA has published the Policy Statement PS16/2: Implementation of the UCITS V Directive where the regulators sets out Handbook changes affecting managers and depositaries of UCITS and alternative investment funds (AIFs).

In Part I of CP15/27 UCITS V Implementation and other changes to the Handbook affecting investment funds the FCA consulted on proposed rules and guidance for implementing UCITS V Directive requirements, in particular.

  • requirements applicable to management companies, including remuneration principles and transparency obligations towards investors
  • changes to the regime for depositaries, including eligibility criteria and capital requirements for firms acting as depositaries of UCITS

In this PS the FCA sets out the final Handbook changes implementing the requirements above and gives its response to the feedback received during the consultation period.

The Policy Statement, related documents and the full statement can be found here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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