Ucits IV management company passport plans delayed on regulatory fears

However, the Commission said in a letter to the Committee of European Securities Regulators (Cesr) that after careful consideration of the possibility of introducing new provisions in respect of the management company passport, it had concluded “the inclusion of such provisions could give rise to supervisory, legal and operational risk which could be detrimental to the operation of funds making use of the management company passport”, where a fund management company is authorised and supervised in a different EU member state to that where its fund range is based. The Commission has instead...