Depositaries role of fund oversight could prove to be a useful boost to the ESG investment process.
The new offering will expand US Bank’s range of UCITS fund clients in Europe and enable it to compete with established European fund administrators.
The laissez-faire approach to UCITS principles has riled market regulators following the recent saga with Neil Woodford's flagship fund, which could have long-term consequences on the funds industry.
A report, conducted by KPMG, highlights areas where EU member states remain conflicted in the implementation of the directive.
The chairman of one of Europe's main think tanks highlighted that market participants were becoming increasingly sceptical of CMU’s likelihood of success.
Regulators are hoping to harmonise the safekeeping requirements for UCITS and AIFMD funds, however this could mean stricter record-keeping requirements.
Broadridge extends regulatory, governance and communications business to European markets through acquisition.
First non-bank entity to receive approval as full depositary.