The European Commission has extended the deadline for comments on its consultation on the main barriers to cross-border distribution of investment funds until 9 October 2016. The consultation is part of the Commission's September 2015 CMU action plan and its aim to increase the proportion of funds marketed and sold across the EU. The Commission believes that greater cross-border distribution allows funds to grow and become more efficient, to allocate capital more efficiently across the EU and to compete within national markets to deliver better value and greater innovation. The consultation relates to UCITS, alternative investment funds (AIFs), European long-term investment funds (ELTIF), European venture capital funds (EuVECA) and European social entrepreneurship funds (EuSEF).