Companies selling Ucits given more time to apply to provide Kiid post transaction

Sellers of Ucits products in the UK now have until 2014 to apply for permission to provide the key investor information document after a transaction is completed rather than before

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Companies can apply to the FSA to override the Ucits IV directive regarding the Kiid

The UK Financial Services Authority (FSA) has extended the period during which companies can apply to bypass one of the more impractical rules of the European Commission's revised Undertakings for Collective Investment in Transferable Securities Directive (Ucits IV), which came into force in July 2011.

The modification relates to the initial stipulation of the Conduct of Business Sourcebooks (Cobs), which requires sellers of Ucits products to provide a key investor information document (Kiid) to

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