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Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Petros Kiteos
Petros Kiteos
  • Petros Kiteos

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Evi Koutsioumpa
Evi Koutsioumpa
  • Evi Koutsioumpa

  • Senior Associate
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Associate
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

ESMA calls for consultation on its cross-border distribution of funds

On 31 March 2020, the European Securities and Markets Authority (ESMA) launched a consultation on the standard forms, templates, and procedures that National Competent Authorities (NCAs) should use to publish information on their websites to facilitate cross-border distribution of funds.

Article 5(3) of Regulation (EU) 2019/1156 of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings (the Regulation) provides that ESMA shall draft implementing technical standards (ITS) to determine standard forms, templates and procedures for the publication and notifications that NCAs are required to make in relation to national provisions concerning marketing requirements applicable within their jurisdiction.

In order to promote the cross-border marketing of UCITS and AIFs throughout the European Union, the Regulation contains provisions which aim at enhancing the transparency of the regulatory framework applicable to the distribution of collective investment undertakings and of the funds which are made available to marketing in each Member State. To this end, it mandates ESMA to develop draft ITS to specify certain technical aspects of the Regulation, described in sections 3 to 5 of this consultation paper.

This consultation paper sets out proposals for the aspects of the ITS relating to the publications to be made by NCAs on their websites with respect to marketing requirements and to regulatory fees and charges.

ESMA will consider the feedback it receives to this consultation by 30 June 2020 with a view to finalising the implementing technical standards for submission to the European Commission by 2 February 2021.

ESMA’s press release can be found here.

Consultation Paper can be found here.