Regulatory proposals on cross-border distribution of collective investment funds
On 21 September 2018, the European Committee on Economic and Monetary Affairs published two draft reports considering the European Parliaments' legislative proposals for a Regulation and a Directive on the cross-border distribution of collective investment funds.
The proposals concerns:
- the definition of pre-marketing to professional investors which is proposed to be introduced in the AIFMD and in the EuVECA and EuSEF Regulations;
- the provisions concerning the possibility for AIFMs and UCITS managers to cease marketing a fund which has previously been active in a particular host Member State; and
- the matter of fees that can be charged by competent authorities, in particular in host Member States, in relation to cross border activity of fund managers