European Union – Freedom of movement. The Court of Justice of the European Union ruled, among other things, that art 49 of the EC Treaty had to be interpreted as precluding a national provision by which a member state imposed a specific penalty, namely a prohibition, ordered by a court, of making future investments of its units in that member state, on undertakings for collective investment (UCIs) governed by foreign law in the event of non-compliance by the latter with the obligation to file the annual declaration necessary for the recovery of a tax on UCIs or in the event of non-payment of that tax.