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

Distribution ＆ Client Disclosures

PRIIPs

EU Fund regulation

Management Companies

04 August 2021

EU retail investments: comprehensive strategy to increase retail investor participation required

EFAMA wholeheartedly supports a retail investment strategy that gives EU citizens the necessary tools and the confidence to put their savings to work by investing in capital markets.

Policy position

Capital Markets

MIFID

Distribution ＆ Client Disclosures

MiFID/MiFIR

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

MiFID/MiFIR

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.

EFAMA response to EC CfE ESG ratings and sustainability risks in credit ratings

EFAMA welcomes the opportunity to respond to the EC’s targeted consultation on the functioning of the ESG rating market in the EU and on the consideration of ESG factors in credit ratings. Please note that our response covers, at the same time, ESG ratings and ESG data providers, as the demand for ESG “raw” data has been increasing at a steady pace. The use of ESG data has also rapidly shifted from a narrow set of investment products to being prolific across all investment products.

Policy Position

Distribution ＆ Client Disclosures

PRIIPs

31 May 2022

EC CfE ON RETAIL INVESTMENT – NEW PACKAGE OF MEASURES TO INCREASE CONSUMER PARTICIPATION IN CAPITAL MARKETS

EFAMA wholeheartedly supports a retail investment strategy that gives EU citizens the necessary tools and the confidence to put their savings to work by investing in capital markets.

Policy Position

Distribution ＆ Client Disclosures

PRIIPs

24 May 2022

IOSCO Retail Market Conduct Task Force Report

EFAMA appreciates the opportunity to respond to the IOSCO Retail Market Conduct Task Force's consultation on retail investment trends.

In our view, the IOSCO report provides a comprehensive picture of the retail market trends and risk magnifiers.

We also take the opportunity to share our views on the following areas:

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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

Capital Markets Union

Competitiveness

Distribution ＆ Client Disclosures

EU Fund regulation

International agenda

Investor Education

Management Companies

Pensions

Stewardship

Sustainable Finance

10 June 2021

EFAMA Annual Review 2020-2021

It gives me great pleasure to provide you with an overview of our activities since our Ordinary General Meeting of last year.

Publication

Distribution ＆ Client Disclosures

PRIIPs

28 April 2021

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.