Six Months And Counting – Key Dates Before UCITS V Goes Live


With now less than six months to go until the deadline for implementation of the UCITS V Directive across EU member states on 18 March 2016, we thought it would be useful to highlight the key dates between now and the implementation deadline.

In addition, given that the deadline for UCITS V is fast approaching, you may find it useful to access the series of briefing notes prepared by Matheson's Asset Management Group which deal with the key issues arising from UCITS V. These may be downloaded from our dedicated UCITS webpage. The issues we examine include changes in respect of the depositary function, manager remuneration and administrative sanctions. Additional updates in respect of UCITS V publication and implementation timelines, as well as our analysis of recent ESMA consultations in respect of UCITS V, may be viewed and downloaded, together with our archive of materials examining the themes addressed in the preceding UCITS IV Directive.

UCITS V: Key Dates

23 October 2015 The European Securities and Markets Authority ("ESMA") consultation on its draft guidelines on sound remuneration policies closes. ESMA has sought evidence from industry to support its proposal that, in applying the proportionality principle, some of the remuneration guidelines may be disapplied in full in certain circumstances. Matheson will be submitting a response to the consultation and we welcome any feedback and contributions from you. Q4 2015 Publication of the European Commission's implementing measures - known as "Level 2 measures" - are expected. The Level 2 measures will provide further detail on contractual provisions to be included in depositary agreements...

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