The regulatory road to efficiency

  European legislation might not sound like much to set the average investor’s pulse racing, but without the European Parliament’s ground-breaking series of legislation on Undertakings for Collective Investments in Transferable Securities (Ucits), the ETF industry in Europe today would be almost unrecognisable.  The series of directives, designed to safeguard investors and increase market confidence, is widely seen as responsible for making the $192bn European ETF market what it is today. “The current form of the ETF industry is based around Ucits,” said Michael John Lytle, marketing ...