A government Bill to carry out EC Directives 2001/107/EC and 2001/108/EC relating to undertakings for collective investment in transferable securities (Ucits) was submitted to the Finnish parliament on October 24 2003. The proposal is subject to parliamentary approval, but the new act is expected to come into force in 2004. The Bill also introduces a separate act relating to foreign investment funds in Finland.
December 01 2003