ESMA launched on the 31st of March a consultation about a draft implementing technical standards under the Regulation on cross-border distribution of funds.
The recent EU Directive 2019/1160 on cross-border distribution of investment funds, as well as the related Regulation (EU) 2019/1156 of 20 June 2019, provide that ESMA shall draft implementing technical standards (“ITS”) to determine standard forms, templates and procedures for the publication and notifications required by NCAs (National Competent Authorities) in relation to the marketing requirements applicable in each EU Member State for the cross-border marketing of investment funds.
This ESMA consultation paper relates to ITS and expect to collect information in relation to the proposal of the draft ITS and standards forms, templates and procedures to be implemented into the regulator-to-regulator and regulator-to-ESMA communication framework, as well as ESMA mandate to publish information by means of website in this regard.
The main topics of the consultation paper relates to:
- Website publication of marketing requirements
- Website publication of regulatory fees and charges
- Central database listen funds marketed on a cross-border basis
ESMA will consider all comments received by the 30th June 2020. All contributions should be submitted online at www.europa.eu under the heading ‘Your input – Consultations’.
The link to ESMA webpage dedicated to the consultation is https://www.esma.europa.eu/press-news/consultations/consultation-cross-border-distribution-funds.
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