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The UCITS IV Directive needed to be implemented by all EU Member States on 1 July 2011. The Netherlands implemented the Directive slightly later, on 22 July 2011. The Directive will have a number of of practical consequences for the registration and maintenance of all incoming UCITS in the Netherlands. The attached client briefing relates to incoming UCITS only and is based on information which Clifford Chance received from the AFM (the Dutch Authority for the Financial Markets).

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