Fund Formation and Management

MFSA Issues Consultation Document About UCITS V

The Malta Financial Services Authority (MFSA) issued a consultation document on the proposed transposition of the UCITS V Directive. This consultation document explains how the MFSA plans to transpose the provisions of the Directive.

The new regulations introduced by UCITS V applies to custodians of UCITS, including entities acting as such. As a result, the tasks, delegation arrangement and liability of such entities arealso subject to these rules. In addition, the rules introduce generalremuneration principles applicable to companies that manage UCITS.

The Directive 2014/91/EU of the European Parliament and the Council, dated 23rd July 2014 (UCITS V) was published on the Official Journal of the European Union. This Directive amends Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to UCITS with respect to depository functions, remuneration policies and sanctions.

All related documents can be found on the MFSA website.