EC promises speedy delivery of UCITS framework

Speaking at the Scottish Financial Enterprise industry lunch, McCreevy recognises the process in Brussels moves at “glacial speed”, but he says the European Commission will be “pulling out all the stops” in implementing the white paper on reforming UCITS legislation, which was published last week. He states: “We will press on with the preparation of legislative amendments and related work. This will be done in an open way so that industry, member states and all stakeholders have an opportunity to comment on our evolving proposals.” McCreevy says the reforms have two aims: improving econ...