ALFI responds to ESMA on draft ITS under EU Regulation facilitating cross-border distribution of collective investment undertakings
1 July 2020 | Statements and Position Papers
On 31 March 2020, the European Securities and Markets Authority (ESMA) launched a consultation on the draft implementing technical standards (ITS) under Regulation (EU) 2019/1156 of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings (the “Regulation”).
The Regulation, along with the directive on cross-border distribution of collective investment undertakings, aims at facilitating the cross-border marketing of UCITS and AIFs, including EuSEFs and EuVECAs, throughout the EU by removing existing barriers and enhancing the protection of investors. The consultation represents the first stage in the development of the draft ITS. The ESMA expects to publish a final report by 2 February 2021 on the basis of the feedback received.
ALFI responded to this consultation on 30 June 2020.