27 Oct. 2005 - CESR publishes today its first consultation paper (Ref. CESR/05-484) on its draft guidelines regarding the cross-border notification procedure of UCITS funds. According to the European Commission’s Financial Integration Monitor of 2005 ‘Integration in the UCITS fund sector has progressed significantly in recent years, n evertheless, more remains to be done to further integrate the single market in UCITS funds, This first consultation paper therefore presents concrete proposals for a common approach to the administration, by host authorities, of the notification procedures set out in Art. 46 of the UCITS Directive.
CESR requests comments and reactions to its proposal and to the specific questions raised in the document by 27 January 2006, from both market participants and from retail investors. Please post your answers online.