For det andet kunne den foreslåede struktur forenkles ved at : a ) fjerne begrænsningen for administrationsselskabernes aktiviteter i UCITS-direktivet eller b ) lade de kreditinstitutter , investeringsselskaber og forsikringsselskaber , der er godkendt på grundlag af de relevante direktiver for det indre marked , forvalte investeringsinstitutters formue samt individuelle porteføljer gennem en udvidelse af investeringsservicedirektivet og det andet bankdirektiv .
Second , the proposed structure could be simplified by ( a ) removing the restriction on the activities of management companies in the UCITS Directive , or ( b ) allowing the credit institutions , investment firms and insurance companies authorised under the relevant single market Directives to manage the assets of UCITS as well as individual portfolios by extension of the Investment Services Directive and the Second Banking Directive .