LFF Newsletter 09/2013
On 15-19 September Luxembourg hosts a gathering of financial regulators from over 110 countries with the power to set standards on 95% of the world’s securities markets. The Annual Meeting of IOSCO, the Madrid based International Organisation of Securities Commissions, is further proof - if proof were needed - that where the financial sector is concerned, the world is already a village.
The European fund industry is characterized by the success story of a truly European idea: UCITS, the acronym of Undertakings for Collective Investments in Transferable Securities. What started in 1985 as a European Directive with the modest ambition of defining a single framework for funds within the European Union ended up as a strong global brand for investment funds that is now recognised around the world.