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Economic and Social Policies, PUBLICATIONS

Cross-border distribution of investment funds [EU Legislation in Progress]

Written by Angelos Delivorias (1st edition),

Accountant checking financial data. Accounting concept.

© designer491 / Fotolia

Investment funds are products created to pool investors’ capital and to invest it in a collective portfolio of securities. In the European Union, the characteristics of a range of different types of investment funds have been established in Union law, and most funds on the market are categorised as one of these types. The market in the EU is smaller than in the United States, despite there being far more funds in the EU. This is the reason why the European Commission has adopted two legislative proposals: one for a regulation aligning national marketing requirements and regulatory fees and harmonising the process and requirements for the verification of marketing material by national competent authorities, and the other for a directive harmonising the conditions under which investment funds may exit a national market and allowing European asset managers to engage in pre-marketing activities.

Versions

Proposal for a directive of the European Parliament and of the Council amending Directive 2009/65/EC of the European Parliament and of the Council and Directive 2011/61/EU of the European Parliament and of the Council with regard to cross-border distribution of collective investment funds;
Proposal for a regulation of the European Parliament and of the Council on facilitating cross-border distribution of collective investment funds and amending Regulations (EU) No 345/2013 and (EU) No 346/2013
Committee responsible: Economic and Monetary Affairs (ECON) COM(2018) 92
COM(2018) 110
12.3.2018 

2018/0041 (COD)
2018/0045 (COD)

Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)

Rapporteur: Wolf Klinz (ALDE, Germany)
Shadow rapporteurs:

 

Alain Lamassoure (EPP, France)
Mady Delvaux (S&D, Luxembourg)
Syed Kamall (ECR, UK)
Matt Carthy (GUE/NGL, Ireland)
Next steps expected: Publication of draft report.

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