Will the EU be forced to review UCITS liquidity requirements?

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 new restrictions on their marketing and distribution. UCITS funds make up 76% of the retail fund market, according to the European Commission, with around €10trn of total assets. UK regulators have criticised UCITS as too "rules-based", leading to questions as to whether the UK could revamp its own rules after it leaves the European Union and build a more "principles-based" regulato...