No roomfor error

A now retired colleague of mine would often say to me "if you aim for the moon and miss, you may as well miss by a mile". I assume he meant that there are some things you just have to get right with no room for error. To an extent this is how I feel about the implementation of the Ucits Product Directive. After all, what is the point of liberalising the types of assets eligible to be held in a Ucits fund if we have no standardised interpretation and are consequently unable to successfully promote the emerging new product ideas to potential consumers across Europe? What value will the Ucit...