European lawmakers could be forced to make changes to the UCITS directive later this year amid criticism from UK regulators of weaknesses in the fund structure, which contributed to the gating of the Woodford Equity Income fund, according to regulatory experts.
Potential changes to the EU directive could include a review of the 10% limit imposed on illiquid assets held within a fund or see regulators re-categorise funds with illiquid holdings as complex, imposing...
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