Council of the European Union and European Parliament 13 July 2009, Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast) (Text with EEA relevance)

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Directive 2009/65/EC establishes a coordinated Community legal framework governing the authorisation, structure, activities, supervision, and cross-border marketing of undertakings for collective investment in transferable securities (UCITS) and their management companies. It sets forth uniform operational and prudential conditions, rules on depositary obligations, merger mechanisms, master-feeder structures, investment limits, and mandatory investor disclosures including key investor information. Supervision is primarily assigned to the competent authorities of the home Member State, supported by cooperation mechanisms, investigatory powers, and cross-border notification procedures.AI