A UCITS ManCo must adopt a business plan setting out details of its organisational and operational structure.
The business plan includes information on how the UCITS ManCo intends to comply with its legal and regulatory obligations under the UCITS Directive.
The business plan sets out the role of the designated person in relation to each of the six managerial functions. This includes details of the reporting lines and escalation points between the various business functions and service providers of the UCITS ManCo, including details of the periodic and ad hoc reporting received by each designated person from such business functions and the service providers and the reporting provided by each designated person to the board of directors of the UCITS ManCo.
It also sets out trigger events and escalation procedures in the event of an issue arising in relation to the UCITS ManCo or the UCITS it manages.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
