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...