The French regulator has voiced concerns about so-called Newcits funds because of the new UCITS rules being enforce next year, according to a report by consultants PriceWaterhouseCoopers.
The Regulatory Times published by PwC in Ireland says that the AMF, the French regulator, has voiced concerns about the future implementation of UCITS IV and UCITS hedge funds.
UCITS IV allows a fund manager to distribute a UCITS fund throughout Europe after obtaining approval from just one European regulator.
The report states: “The AMF currently limits access to Newcits funds, imposing high minimum levels of investment in order to protect investors, a policy not applied by other regulators.
“Following UCITS IV implementation, the AMF will no longer have the power to apply this policy, as national regulators will