FSA moves to increase disciplinary powers under UCITS IV

HM Treasury and the FSA have today published a joint consultation paper setting out proposals for the read-across of the revised Undertakings for Collective Investment in Transferable Securities Directive, known as UCITS IV. Any changes would require a number of amendments to FSMA and an extension of the FSA's disciplinary powers, the paper states. UCITS IV will introduce the following changes: Introduction of a management company passport Improved investor disclosure: Removal of administrative barriers to the cross-border marketing of UCITS: A framework for mergers bet...