MEPs to back 'passport' for investment funds
"Revision makes cross-border investment easier; directive offers significant savings for funds.
The European Parliament is expected to approve a report next week (13 January) that will recommend making it easier for investment funds to operate outside the state they are registered in. Under a controversial management ‘passport' provision, which MEPs are set to insert into a directive proposed by the European Commission, investment funds will be able to locate their operations outside their state of origin more quickly. The revised directive on UCITS (undertakings for collective investment in transferable securities) will mean significant cost-savings for funds. It will also make cross-border mergers of investment funds easier." [EuropeanVoice]
The Week Ahead 12-18 January 2009: Plenary Session – Strasbourg (overview)
[Europa]
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