In February 2014, the European Union reached a compromise agreement on “UCITS V” – a Directive upgrading the UCITS requirements on remuneration policies, the depositary, as well as sanctions. The new requirements will have a substantial impact on many UCITS management companies and their depositaries.
The European Council has recently approved the Recast of the Union Customs Code (UCC). The adoption of the UCC marks an important step towards the adaptation of the EU Customs regulatory framework to the evolution of the technology.
The survey provides insight on how fund administrators are looking to adjust to new business conditions brought upon by structural changes and regulatory developments of the private equity and real estate industry.