Consumer Protection Aspects of the UCITS Amending Directives of 17 July 1998
The so-called 'UCITS Directive' of 1998 went some way towards the creation a single market for unit trusts, based on the principle of home-country control. The Commission has recently made proposals to allow a wider choice of investments by funds and further open up the market; and these have given rise to considerable debate not least in the European Parliament on such issues as 'tracker' and 'master feeder' funds. Professor Udo Reifner outlines the main provisions of the proposed legislation, and analyses them from the perspective of investor protection, which he believes should not be ignored in the search for market liberalisation. The amendments voted by Parliament at first reading are appended in an Annexe.
Study
External author
Udo Reifner (Institut für Finanzdienstleistungen, Hamburg, Germany)
About this document
Publication type
Policy area
Keyword
- banking
- BUSINESS AND COMPETITION
- capital market
- consumer protection
- consumption
- FINANCE
- financial institutions and credit
- financial requirements
- financial services
- financing and investment
- free movement of capital
- investment
- investment company
- management
- monetary economics
- money market
- securities
- TRADE