Memo #
18160
COMMITTEE OF EUROPEAN SECURITIES REGULATORS TO PROVIDE ADVICE ON DEFINITIONS OF ELIGIBLE ASSETS FOR UCITS
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ACTION REQUESTED
[18160]
November 4, 2004
TO: INTERNATIONAL COMMITTEE No. 51-04
RE: COMMITTEE OF EUROPEAN SECURITIES REGULATORS TO PROVIDE ADVICE ON
DEFINITIONS OF ELIGIBLE ASSETS FOR UCITS
The Committee of European Securities Regulators (CESR) seeks comment on what it
should consider in providing advice to the European Commission regarding clarification of
definitions of eligible assets for UCITS funds. A copy of the request for comment is attached.
The European Commission intends to clarify some of the definitions regarding eligible
assets for investment by UCITS funds. In preparation, the Commission has formally requested
advice from CESR on several provisions, including: (1) the definition of transferable securities;
(2) the definition of money market instruments; (3) other collective investment undertakings; (4)
financial derivative instruments; and (5) index replicating UCITS. CESR’s request for comment
states that the Commission has asked for specific advice on these provisions and raises some of
the significant issues to be considered for each piece of advice but does not discuss CESR’s
views on these issues.
Comments are due to CESR by November 28, 2004. The Institute does not plan to
submit comment to CESR in response to this request. If you think the Institute should
comment on particular issues, please contact us at jchoi@ici.org or (202) 326-5810
immediately.
Jennifer S. Choi
Associate Counsel
Attachment (in .pdf format)