Offering UCITS to US Institutional Investors: A Post Dodd-Frank Overview - Part 1 of 2
Over the past 25 years, UCITS (Undertakings for Collective Investments in Transferable Securities) have grown into a global investment fund brand. While originally developed to facilitate cross-border distribution within Europe, UCITS continue to grow in popularity outside of Europe, particularly in fast growing markets in Asia and South America.
This article highlights the key regulatory challenges to offering UCITS to residents of the United States in the post Dodd-Frank Act era. Part 2 of this article, which will include a discussion of the impact of recent rulemaking by the US Securities and Exchange Commission (Commission) and the Commodity Futures Trading Commission (CFTC) on UCITS, will appear in an upcoming issue of The Investment Lawyer.