AIMA calls for depositary passport in UCITS V proposal

Thu Nov 1, 2012

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AIMA, the global hedge fund association, has called for the establishment of a UCITS depositary "passport" regime in its position paper on the proposal for a UCITS V Directive in the European Union.

AIMA said that institutions authorised by one European Union country to act as a UCITS depositary should be granted automatic rights to provide the same services throughout the EU. Currently, the Directive limits the...

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