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UCITS management company passport: CESR call for evidence
Recent proposals by the Commission to draft an amending UCITS directive (see accompanying article) did not included proposals on the managing company passport. The Commission feels it needs to ensure high level of investor protection in the context of such cross-order management arrangements.
European Commission has requested CESR to provide advice that will help the Commission to develop provisions permitting the introduction of a management company passport under conditions that are consistent with a high level of investor protection.
Deadline for responses is 22 August 2008.
