ECON has published draft rapporteur reports on the European Commission’s proposals for a Directive and a Regulation on facilitating cross-border distribution of collective investment funds. The reports include draft European Parliament legislative resolutions which set out amendments to the Commission’s proposals. If approved, the legislative proposals will require amendments to the UCITS Directive, the AIFM Directive, the EuVECA and EuSEF Regulations and address:
- procedures for meeting marketing requirements by national authorities;
- transparency on fees set by national authorities; and
- possibility of pre-marketing across borders AIFs that have not been established.
The rapporteur generally endorses the Commission proposals but suggests amendments in some areas which are shown in bold italics in the reports.