On 15 December 2023, the European Commission adopted the Regulatory Technical Standards (RTS) on the notifications for cross-border marketing and cross-border management of AIFs and UCITS. This was exactly a year after ESMA published its Final Report on Draft technical standards on the notifications for cross-border marketing and cross-border management of AIFs and UCITs. The Commission delegated regulations are expected to be published in mid-March 2024.
Background
ESMA published a consultation on 17 May 2022 to seek views on draft Implementing Technical Standards (ITS) and Regulatory Technical Standards (RTS) in relation to cross-border marketing and management of AIFs and UCITS within the EU. This includes proposals for the information to be provided, as well as the content and format of notification letters to be submitted by UCITS, management companies and alternative investment fund managers (AIFMs) to the national competent authorities (NCAs) to undertake cross-border marketing or cross-border management activities in host EU Member States. The deadline for responding to the consultation was 9 September 2022
AREF didn't respond to this consultation but AREF’s Public Policy Committee are monitoring the outcome.
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