Distribution & Client Disclosures

EFAMA monitors issues surrounding fund distribution and disclosures to investors. These include investor protection and disclosure issues arising from the evolving PRIIPs and MiFID frameworks, the shift towards digital distribution tools, and the continued integration of ESG considerations into fund products.

Related policy positions

Policy position

Capital Markets

MIFID

Distribution ＆ Client Disclosures

11 June 2021

MiFID: EFAMA replies to ESMA consultation on RTS 2 Annual Review

EFAMA replied to a specific question on moving to stage 3 for the determination of the liquidity assessment of bonds.

Policy position

Capital Markets

MIFID

Distribution ＆ Client Disclosures

29 April 2021

ESMA consults on guidelines of the MIFID II appropriateness and execution-only requirements

EFAMA agrees in principle with many of ESMA’s suggested approaches in their consultation on guidelines on certain aspects of the MIFID II appropriateness and execution-only requirements.

Policy position

Distribution ＆ Client Disclosures

PRIIPs

26 April 2021

EFAMA asks for sufficient time to implement the new PRIIPs rules

EFAMA welcomes the ESAs’ official approval of the revised PRIIPs RTS and is now awaiting the Commission’s endorsement to have the RTS approved by the European co-legislators.

Originally, the Commission had intended to endorse the revised RTS by Q1 2020. With less than nine months remaining until the 31 December 2021 implementation deadline, there is now simply not enough time for fund managers and other product manufacturers to properly implement the envisaged wide-ranging changes. We explain why in more detail below.

Infographic | The challenges of replacing UCITS KIIDs with PRIIP KIDs

In support of our call for additional time to implement the PRIIPs rules, we have produced an infographic that summarises the challenges our members face replacing UCITS KIIDS with PRIIP KIDs. The infographic shows the many entities involved in the process and the steps required to prepare a PRIIP KID. Feel free to make use of this infographic.

Announcement

MIFID

Competitiveness

Distribution ＆ Client Disclosures

15 February 2021

FinDatEx launches interim version of European MiFID Template

The Financial Data Exchange Templates (FinDatEx) platform today published an interim version of the European MiFID Template (EMT V3.1) which is available on the FinDatEx website. The purpose of this interim version is to answer the demand of product distributors and manufacturers to cope with the basic implementation of MiFID II ESG/SFDR principles, and in view of the misaligned application dates of SFDR Level 1, SFDR RTS and MiFID II delegated acts.

Announcement

MIFID

Distribution ＆ Client Disclosures

01 December 2020

Financial Data Exchange Templates (FinDatEx) platform publishes European Feedback Template

Financial Data Exchange Templates (FinDatEx) platform published on 01 December 2020 the European Feedback Template (EFT V1). This template standardises the information to be sent back from the distributor to the manufacturer under the MiFID 2 target market requirements. This is the first European wide feedback template. The EFT and all other FinDatEx templates are not compulsory, provided to the industry free of charge and are free of any intellectual property rights.

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Related publications

Publication

Competitiveness

Data

Distribution ＆ Client Disclosures

EU Fund regulation

Management Companies

Statistics

Sustainable Finance

15 December 2021

Asset Management Report 2021

This is our 13th edition of the Asset Management in Europe report, which provides an in-depth analysis of recent trends in the European asset management industry, focussing on where investment funds and discretionary mandates are managed in Europe.

Publication