UCITS guidelines could spark fund flurry - FSA

The regulator today sets out proposals to implement the EU Eligible Assets Directive (EAD) and the Committee of European Securities Regulators (CESR) guidelines for UCITS schemes. It says the EAD helps with the definition of which assets are eligible for UCITS schemes to invest in. UCITS are a set of EU directives that aim to allow collective investment schemes – such as OEICs in the UK – to operate freely throughout the EU on the basis of a single authorisation from one member state. FSA retail policy director, Dan Waters, says: “Our proposals implement the EAD and the guidelines in a p...