Brussels, 15/04/2014 (Agence Europe) - On Tuesday 15 April, the European Parliament cast in stone the directive boosting investor protection in unit trusts and other forms of collective investment (UCITS) in response to the Madoff scandal.
In 2016, there will be better definition of the work of depositories (the companies that manage the shares bought by unit trust managers) along with their duties (see EUROPE 11043).
In order to restrict excessive risk-taking, the directive lays down...