摘要：We are consulting on proposed changes to the Client Assets sourcebook (CASS) and the Collective Investment Schemes sourcebook (COLL), following the adoption of the Undertakings for Collective Investment in Transferable Securities V Level 2 Regulation (UCITS V Level 2 Regulation). 

We are also consulting on minor changes to SYSC and consequential amendments in COLL and the Investment Funds sourcebook (FUND) to reflect certain measures in the Securities Financing Transactions Regulation (SFTR). 

UCITS are regulated open-ended investment funds that can be sold to retail consumers throughout the European Union (EU). 

The UCITS Directive sets out a harmonised regime for UCITS, their management companies and depositaries, with the aim of achieving a common standard of investor protection across the EU. 

The UCITS V Level 2 Regulation was published by the European Commission on 24 March 2016. 

It will apply to firms from 13 October 2016. 

This regulation introduces new requirements for depositaries and trustees of UCITS (UCITS depositaries). 

These requirements include safekeeping requirements for UCITS depositaries, requirements for the UCITS management company and the depositary to act independently, and steps to protect the UCITS assets if a third-party delegated custodian becomes insolvent. 

This paper will be of interest to UCITS depositaries, management companies of UCITS or other authorised funds, representative trade bodies, auditors, consultants and other advisers in the UK’s fund management industry. 

It will also interest UCITS management companies and full-scope alternative investment fund managers (AIFMs) whose business activities include securities financing transactions (SFTs) and total return swaps.

详情请见： http://www.fca.org.uk/news/cp16-14-ucits-v-level-2-regulation-sftr

附件： http://www.fca.org.uk/your-fca/documents/consultation-papers/cp16-14