UK UCITS: Regulation, Compliance & Practice

Introduction

This modular webinar course provides a practical, practitioner-level analysis of the UK UCITS regulatory framework as it stands today. It is designed for professionals working within UCITS management companies who are already familiar with the broad shape of UK financial services regulation and who need to deepen their technical understanding of the specific obligations, risks and current developments that apply to the management of UCITS funds in the UK.

This course does not seek to restate the COLL sourcebook. Instead, each module focuses on the areas that cause genuine difficulty in practice - the grey areas, the post-Brexit divergences, the recent regulatory changes that firms have been slow to implement and the interactions between different regulatory regimes. For each topic, the course identifies the specific questions that compliance officers and lawyers should be asking of their own firms.

This course is structured in six modules, each covering a distinct area of UCITS law and regulation. The modules can be viewed in sequence or individually as standalone reference material. Each module concludes with a set of self-assessment questions designed to help you evaluate your own firm’s compliance position.

What you will learn

This modular webinar series will cover the following:

• Module 1: UK UCITS and EU UCITS - the post-Brexit structural landscape
• Understand the current legal framework governing UK UCITS following the incorporation of EU law into UK domestic law
• Identify the key structural differences between UK UCITS and EU UCITS and the implications for dual-market strategies
• Appreciate the current state of UK-EU regulatory divergence and the direction of travel under each regime
• Module 2: Investment restrictions and eligible assets - the hard edges
• Apply the eligible assets framework to common and novel instrument types encountered in fund portfolios
• Identify exposure limits applicable to UCITS under COLL and understand the method for calculating compliance
• Understand the compliance process when an investment restriction breach occurs, and what the FCA expects
• Module 3: UCITS fund documentation - what needs to be in there and what goes wrong
• Understand the mandatory content requirements for a UCITS prospectus and the legal consequences of defective disclosure
• Identify the interaction between the prospectus, the scheme particulars, and the depositary agreement
• Apply knowledge of UK KIID requirements and the post-Brexit divergence from the EU PRIIPs KID regime
• Module 4: Consumer Duty for UCITS manufacturers
• Identify the obligations of a UCITS management company as a manufacturer; under the Consumer Duty framework
• Apply the product governance and price and value requirements to real UCITS fund structures
• Understand the ongoing monitoring obligations and how they interact with the UCITS prospectus and distribution arrangements
• Module 5: Liquidity management - the new FCA toolkit
• Understand the new liquidity management tools (LMT) regime introduced by PS24/1 and the revised COLL requirements
• Assess the relative merits of each available LMT for different UCITS fund structures and investor bases
• Identify the documentation, governance, and disclosure changes required to implement the new regime
• Module 6: SDR, sustainability labelling, and financial promotions for UCITS
• Identify which UCITS funds can use SDR sustainability labels and what the qualifying criteria require in practice
• Apply the anti-greenwashing rule to fund marketing materials and understand the threshold for compliance
• Understand the financial promotions framework for UCITS, including the approval gateway and common compliance failures

This pre-recorded webinar will be available to view from Monday 25th January 2027

Alternatively, you can gain access to this webinar and 2,400+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.