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EU Commission adopts amended report on addressing national barriers to capital flows

01/01/2017

On 24 March 2017, the European Commission adopted a report to the Council and the European Parliament on “Accelerating the capital markets union: addressing national barriers to capital flows”.

On 24 March 2017, the European Commission adopted a report to the Council and the European Parliament on “Accelerating the capital markets union: addressing national barriers to capital flows”. This follows a consultation in June 2016 on barriers to the cross-border distribution of funds across the EU.  The report acknowledges the barrier to entry that comes with varying fees and additional requirements for passporting funds across the EU. In the report, the Commission pushes for greater transparency on fees, and confirms that it is assessing more broadly whether notification fees are compatible with an efficient notification procedure and passporting rights provided for in the legislation. In the event that such fees continue, the report indicates that the Commission will consider how to ensure they are proportionate and not excessive.

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