CESR Launches A Call For Evidence On Possible Implementing Measures Of The Future UCITS Directive

On 13 January 2009 the European Parliament adopted in plenary session a proposal for a Directive containing amendments to the UCITS Directive (85/611/EEC) . This followed approval by the Council of an identical compromise text at a COREPER meeting of 17 December 2008 (the Council’s final approval is expected in April/May). On the basis of the compromise text, the Commission has requested CESR’s assistance on the content of the implementing measures to be taken pursuant to the revised Directive. As the Directive imposes a strict deadline (1 July 2010) for adoption of certain level 2 measures, the Commission feels it is important for CESR to start its work as soon as possible.

To this end, CESR publishes today a call for evidence, in which CESR invites all interested parties to submit their views on what CESR should consider in its advice to the Commission.

All contributions can be submitted online via CESR’s website under the heading ‘Consultations’ by 31 March 2009.

CESR will provide further details in due course in relation to the public consultation it will carry out in light of responses to the call for evidence and its own deliberations.