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Undertakings For Collective Investment In Transferable Securities Directive 2009/65/EC - UCITS V

Level:
Intended audience:
Solution Store:

Advanced
Anyone providing investment services
Click here to access the templates

Introduction

The Undertakings for Collective Investment in Transferable Securities Directive (UCITS) 2009/65/EC is a consolidated EU Directive that allows collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state. EU member states are entitled to have additional regulatory requirements for the benefit of investors.

It is the main European framework covering collective investment schemes. This category of investment funds accounts for around 75% of all collective investments by small investors in Europe.

UCITS V aims to increase the level of protection already offered to investors in UCITS and to improve investor confidence in UCITS. It aims to do so by enhancing the rules on the responsibilities of depositaries and by introducing remuneration policy requirements for UCITS fund managers.

UCITS V also aims to ensure that all EU regulators responsible for the supervision of UCITS funds and their managers have a common minimum set of powers available to investigate infringements of national laws transposing the UCITS Directives and to sanction any breaches.

Key Benefits

Here are the key benefits of the RequirementONE UCITS Solution.

Simpler Implementation

The Directive is broken into individual records which help with gap analysis to ensure complete coverage.

Collaboration

The Framework can facilitate internal and external collaboration through a common understanding and shared goals.

Mapping Controls and Policies

Individual controls and policies may apply to numerous frameworks. These can be maintained as an interlinked set of procedures to avoid duplication of effort.

A Single Point of Truth

Each compliance element is stored as a record and can be updated, commented, controlled and audited individually. Data is accessible to all stakeholders without version control issues.

Dependency Linking

All links and interfaces can be defined and maintained showing dependencies between various policies.

Reporting

Track the progress of UCITS compliance. In-line analytics highlight gaps in coverage, traceability of changes and project status.

Auditing

Internal and External audit teams benefit from a specialized interface with full visibility to review and evaluate procedures.

Typical Use Cases

Here is a typical, but not exhaustive, list of roles and associated use cases that would interact with this solution.

Role Use Case
End users
  • Consume the latest policies, controls and procedures
Compliance team
  • Use the framework as a guide to implement the relevant controls and policies
  • Manage and report against compliance status
Executive
  • Roadmap to achieve or improve UCITS V Compliance

Templates

These apps and templates are used for the solution.

What Description
Specification 
Undertakings For Collective Investment In Transferable Securities Directive 2009/65/EC - UCITS V A specification containing UCITS V, which can be used to ensure that all policies, controls and procedures are correct.

GET STARTED
1) Download the "Undertakings For Collective Investment In Transferable Securities Directive 2009/65/EC - UCITS V" specification from the Solution Store
2) For each UCITS record:
* Review it, set the Reviewed custom field to "Yes". If it needs to be reviewed later, set it to "No"
* If you need to provide a report on the record, set the Record custom field to "Yes", if not "No".
* If the record needs to be included in your policies, controls and procedures, set the Internal Documentation custom field to "Yes", else "No".
2) Link relevant Policy, Control and Procedure records to each record.
3) Use filters and reporting to identify gaps
4) If there are people in the organization who need to be informed, but do not have access to RequirementONE, Export the completed document to Word.

ESMA:

  • ESMA's technical advice to the European Commission on delegated acts required by the UCITS Directive 
  • ESMA consultation on Guidelines on sound remuneration policies under the UCITS Directive and AIFMD
A specification containing the ESMA Q & A on the application of the AIFMD, which can be used to ensure that all policies, controls and procedures are correct.

GET STARTED
1) Download the ESMA guide specifications from the Solution Store
2) For each ESMA record:
* Review it, set the Reviewed custom field to "Yes". If it needs to be reviewed later, set it to "No"
* If you need to provide a report on the record, set the Record custom field to "Yes", if not "No".
* If the record needs to be included in your policies, controls and procedures, set the Internal Documentation custom field to "Yes", else "No".
2) Link relevant Policy, Control and Procedure records to each record.
3) Use filters and reporting to identify gaps
4) If there are people in the organization who need to be informed, but do not have access to RequirementONE, Export the completed document to Word.

 

 

Getting started

  1. Select an existing, or create a new project
  2. Click on the Solution Store, and select the UCITS Templates
  3. Once you have the templates, add your custom data and work through the plan.

Additional notes

Combine AIFMD with other templates such as MiFID, MiFIR and ESMA to provide a holistic Compliance solution for your organization. 

Related links

Questions or Comments?

Respond to this post if you want to comment on the template or ask the author a question.

 

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