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Revel Wood, FundRock CEO talks about the new Sanctions Regime and the increasing need for substance and effective control.
The implementation of the UCITS V directive in March last year was a sharp wake-up call for many industry players to up their game and take the consequences of non-compliance more seriously than ever before. Like its predecessors (I to IV), UCITS V serves to enhance investor protection, drive greater transparency, strengthen governance and pinpoint conflicts.
This time, with harmonization as a top priority, we are faced with a new list of breaches, minimum list of sanctioning criteria and catalogue of sanctions, establishment of whistleblowing mechanisms and required reporting to ESMA. In light of...
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