- Changes concerned the remuneration scheme for senior executives in mutual fund
management companies, depository receivers, calculation of penalties, for breach.
- Rules currently do not contain provisions implementing Reg (EU) 2016/438 on the
custodian’s duties, since it has not yet been incorporated into the EEA Agreement.
- UCITS V Directive changes rules for mutual funds in 3 areas, applies to custodians,
remuneration schemes for senior executives and others in mutual funds, sanctions.
- Ministry of Finance will prescribe regulations implementing the rest of the UCITS V.
- Amendments effective from 1 January 2018.