Future of UCITS
In July 2012, the Commission issued a consultation on the future of UCITS focussing on questions about product rules, liquidity management, depositaries, money market funds and long-term Investments. This was done out of a concern that earlier revisions to the UCITS framework had opened up UCITS funds to a very broad range of investments and strategies, raising concerns about the use of derivatives or the interaction with shadow banking entities, for example.
An initial follow-up workstream is the legislative proposal on Money Market Funds (see dossier), announced by the Commission on 4 September 2013 .
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