Implementation initiated for UCITS V Directive in Belgium


UCITS V Directive will overhaul current rules in respect of:

  • the duties and liabilities of depositaries;
  • the remuneration policies within management companies for UCITS and self-managed investment companies; and
  • the sanctions regime.

Note that UCITS V Directive does not grant much leeway to Member States and, consequently, Belgium’s government did not put forward “gold-plated” provisions.

Member States were bound to comply with UCITS V Directive by 18 March 2016. An ensuing infringement proceeding for non-communication of the national transposition measure has therefore been commenced by the European Commission and is still pending against Belgium.