In this Policy Statement (PS) we set out Handbook changes affecting managers and depositaries of UCITS and alternative investment funds (AIFs).
In Part I of CP15/27 UCITS V Implementation and other changes to the Handbook affecting investment funds we consulted on proposed rules and guidance for implementing UCITS V Directive requirements, in particular:
In this PS we set out the final Handbook changes implementing the requirements above and give our response to the feedback received during the consultation period.
In this PS we set out the final rules for managers of non-UCITS retail schemes (NURS) we also consulted on in Part I of CP15/27. We also outline some final guidance for depositaries of AIFs, which we consulted on in our March 2015 quarterly consultation paper CP15/8.
This PS will affect:
We must implement UCITS V by 18 March 2016, so the rules and guidance will come into force on this date. The Handbook changes affecting managers and depositaries of AIFs will also take effect on this date. However, there are transitional provisions applying to some of the final requirements which run for up to two years, starting from 18 March 2016.
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