We welcome yesterday's vote by the European Parliament plenary formally adopting two ‘quick fixes’ for PRIIPs (Packaged retail investments and insurance-based products) and UCITS (Undertakings for Collective Investment in Transferable Securities).
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
Press Release
Distribution ＆ Client Disclosures
PRIIPs
24 November 2021
European Parliament votes on ‘quick fixes’ for PRIIPs and UCITS - EFAMA statement
Press Release
Distribution ＆ Client Disclosures
PRIIPs
22 October 2021
EFAMA Statement on the ECON Committee’s draft report amending the UCITS directive for PRIIPs
Andreas Stepnitzka, EFAMA Deputy Director, Regulatory Policy, comments:
Policy Position
Distribution ＆ Client Disclosures
Management Companies
29 September 2021
Distance marketing of consumer financial services – Review of EU rules
EFAMA provided high-level comments to the Commission’s consultation on the potential review of the Directive on Distance Marketing of Consumer Financial Services.
We agree with the Commission’s interpretation that the Directive is seen as a “safety net” for financial services not already subject to product-specific legislation. Fund and asset managers are already subject to various, more stringent and detailed sectoral legislations, such as (but not limited to) UCITS, AIFMD and MiFID as well as the (more recent) Cross-Border Fund Distribution Directives.
Related news
Policy Position
Distribution ＆ Client Disclosures
27 April 2022
EFAMA response to ESMA’S consultation paper “guidelines on certain aspects of the Mifid II Suitability Requirements”
EFAMA places huge importance on this revision of ESMA’s suitability guidelines, as they spell out in detail how investors can invest in sustainable investment products. If they are well designed, the guidelines have the potential to significantly boost capital flows towards sustainable investments; a goal that the European fund industry strongly supports.
Policy Position
Distribution ＆ Client Disclosures
22 March 2022
EFAMA's response to the EU Commission's targeted consultation on options to enhance the suitability and appropriateness assessments
EFAMA appreciates the opportunity to share our views on the European Commission’s consultation on enhancements to the suitability and appropriateness assessments forming part of the wider, upcoming Retail Investment Strategy.
Announcement
MIFID
Distribution ＆ Client Disclosures
Sustainable Finance
14 March 2022
FinDatEx publishes EET v1.0 and EMT v4.0
The European ESG Template (EET) is meant to facilitate the necessary exchange of data between product manufacturer and distributor for the purpose of fulfilling ESG-related regulatory requirements contained in the SFDR, relevant provisions of the Taxonomy Regulation, and the relevant delegated acts complementing MiFID II and IDD. The EET V1 is based on the regulatory situation on the day of publication and will be reviewed regularly depending on the evolving regulation, and at least confirmed annually. With regard to the MiFID target market, the EET interacts with the EMT V4.
Related publications
Publication
Capital Markets Union
Distribution ＆ Client Disclosures
EU Fund regulation
Investor Education
Management Companies
Pensions
Sustainable Finance
Tax ＆ Accounting
10 September 2020
Household Participation in Capital Markets - Country Statistical Profiles
Publication
Capital Markets Union
Distribution ＆ Client Disclosures
PRIIPs
EU Fund regulation
Investor Education
Pensions
Tax ＆ Accounting
Withholding taxes
21 July 2020
3 questions to Sheila Nicoll and Alexander Schindler on the Capital Markets Union High Level Forum
Q #1 What is the difference of the High-Level Forum report to previous initiatives on the Capital Markets Union? What is different this time around?
Publication
Capital Markets
Capital Markets Union
Competitiveness
Data
Distribution ＆ Client Disclosures
EU Fund regulation
International agenda
Management Companies
Pensions
Stewardship
Supervision
Sustainable Finance
Tax ＆ Accounting
11 June 2020
Annual Review June 2019-June 2020
"It gives me great pleasure to provide you with an overview of our activities since our Annual General Meeting in Paris last year. While we were very much looking forward to hosting you all in Brussels this week, the current crisis and associated travel restrictions has forced us to improvise and turn our meeting into a virtual AGM.
Past events
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