Politics & Regulation Regulation

The ins and outs of UCITS passporting


Greater cooperation within the European Union has resulted in new rules to make the sale of funds more harmonious between different member states.

Twenty-five years ago UCITS legislation came into force with the aim of creating greater harmonisation between different European Union countries.

Tim Gardner from Signet

The costs and requirements of establishing a UCITS fund can vary enormously depending on the country, according to executives and consultants within the industry.

Bill Blackwell, chief operating officer and principal consultant of London-based consultants Carne Global Financial Services, says: “Legal and translation costs associated with passporting tend to be a big issue. These costs and requirements differ depending on which jurisdiction you are in. Each regulator closely monitors those entries offering financial