Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/3024
Title: Cross border marketing and sales of UCITS
Authors: Tonna, Christian
Keywords: Financial services industry -- Malta
Investments -- Law and legislation -- Malta
Risk management -- Law and legislation -- Malta
Issue Date: 2010
Abstract: This thesis seeks to achieve a number of aims: (i) to give an insight into those key provisions within the UCITS Directive which reflect its key policy considerations, namely marketing and investor protection; (ii) to provide a comprehensive analysis of the practical effect which the presently implemented provisions have had; (iii) to assess whether the upcoming amendments of UCITS IV will in fact redress the short comings of UCITS III. Chapter 1 deals with the current situation faced by the financial services industry, and what the European Union intends on doing to counter the crisis. This Chapter then looks into the influence accession has had on Malta's own industry, and the importance finance services plays in the grand scheme of integration, especially in light of the European passport. It then introduces the Investment fund industry in particular and concludes with a breakdown of the evolution of the UCITS Directive. Chapter 2 contains an overview of the way Malta has dealt with collective investment schemes, and what has been achieved since the implementation of UCITS III. The Chapter goes into what constitutes a Collective Investment Scheme and how they are regulated and categorised. It goes into the difference between Professional investor finds and Retail Schemes, whether they are based in Malta or abroad, and also whether they are UCITS compliant. Chapter 3 attempts to analyse UCITS III's main attributes, relating to the effectiveness of brand marketing and the safeguarding of the investor. It analyses the apparent flaws in the system and formulates an understanding of why the Commission seems to be persisting with certain characteristics. The element of risk is discussed as the necessary evil of the sector and what action has been taken to shield the investor from superfluous risk. 5 Chapter 4 delves into how UCITS 4 is a product of necessity, stemming from the ever increasing competition in the Collective Investment Scheme market. The Chapter considers the challenges faced by these instruments, and scrutinises whether the recast of the Directive efficiently deals with the current hurdles and effectively achieves what was first thought up in UCITS III, in order to achieve greater investor confidence.
Description: LL.D.
URI: https://www.um.edu.mt/library/oar//handle/123456789/3024
Appears in Collections:Dissertations - FacLaw - 2010

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