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Food for thought: This is mainly aimed at the financial translators out there. The EU parliament passed the new UCIT IV in January 2009 which will now have to be implemented by the individual member states until 2011. This could have significant implications on the translation industry, especially for financial translators, as fund management companies will no longer be obliged to have prospectuses, annual reports etc. translated into other languages. Strictly speaking documents in a language which is well established and widely used in the financial markets (i.e. English and maybe French) will suffice. Only a small 2 page document for the investor which will replace simplified prospectuses will have to be translated by law in future. Although many companies will still provide different language versions in order to compete and offer a better service, this could pose a potential threat to the translation industry. Any thoughts from you on this are very welcome indeed.
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