Undertakings for Collective Investments in Transferable Securities II (UCITS II)

Definition:

UCITS II Directive was drafted in early 1990s to amend the 1985 Directives to more successfully harmonize laws throughout Europe. However, Council of Ministers could not reach a common position and UCITS II was abandoned.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Subrogation

An insurance process whereby a company that has paid out to a policyholder for a loss incurred recovers the amount of the loss from the party that is legally liable.

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