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Europe Daily Bulletin No. 9705

17 July 2008
Contents Publication in full By article 16 / 36
GENERAL NEWS / (eu) eu/financial services
Measures to improve distribution of investment funds - No passport for management companies

Brussels, 16/07/2008 (Agence Europe) -On Wednesday 16 July, the European Commission presented a revision of the European legislation (directive 85/611/EEC) governing the activities of undertakings for collective investment in transferable securities (UCITS), in other words investment funds harmonised within the European Union (see EUROPE 9668). The measures proposed will help to improve the cross-border distribution of these funds, which are worth more than €6,400 billion. However, the...

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