Laws, regulations and other texts

Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009

on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities ("UCITS Directive")

This directive is a recast of Directive 85/611/EEC. It amends, among others, the rules regarding the cross-border distribution of UCITS and establishes a legal framework for mergers between UCITS as well as for the creation of "master-feeder" structures. In addition, the simplified prospectus is replaced by the Key Investor Information document (KII). This directive also enhances the existing cooperation mechanisms between the national supervisors and it establishes the "management company" passport. The UCITS Directive was transposed by the law of 17 December 2010 relating to undertakings for collective investment ("2010 UCI Law").