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

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year

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Policy position

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

Capital Markets

Distribution ＆ Client Disclosures

MiFID/MiFIR

EU Fund regulation

UCITS

23 November 2020

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

We disagree with an extension of its scope to UCITS’ and AIFs’ management companies to the scope of the reporting requirements imposed by MiFIR, Art. 26. This extension would be in breach of the principle of proportionality, as:

Policy position

Associations Letter: Integration of sustainability factors and risks into MiFID II IDD and Solvency II

Distribution ＆ Client Disclosures

MiFID/MiFIR

Management Companies

Sustainable Finance

27 July 2020

Associations Letter: Integration of sustainability factors and risks into MiFID II IDD and Solvency II

Policy position

Capital Markets

MIFID

Distribution ＆ Client Disclosures

MiFID/MiFIR

Sustainable Finance

08 July 2020

EFAMA responds to EC draft DA on integration of ESG into MiFID II

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

MiFID/MiFIR

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

MiFID/MiFIR

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

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year

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Publication

MIFID

Distribution ＆ Client Disclosures

MiFID/MiFIR

PRIIPs

Management Companies

AIFMD

03 June 2020

Investment Funds Distributor Due Diligence Questionnaire

Funds face unique challenges in performing intermediary oversight, and especially so because of MiFID II requirements, changing regulatory landscapes, and the absence of an industry agreed-upon standard between funds and their distribution channels. To help address these challenges, a dedicated working group developed a uniform due diligence questionnaire (DDQ) that will serve as the standard for investment funds (UCITS and AIFs) in performing onboarding and ongoing oversight of distribution channels.