EFAMA, together with EBF, Insurance Europe, EACB, EAPB, ESBG and EUSIPA, issued a public letter addressed to Vice-President Dombrovskis, Commissioners McGuinness and Director-General Berrigan, remarking the importance of advice for European retail investors and the need to maintain the coexistence of fee-based and commission-based advice.
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
Retail Investment
16 December 2022
Joint Industry letter on the importance of advice and preserving the commission-based model
Policy position
Distribution ＆ Client Disclosures
PRIIPs
13 December 2022
EFAMA PRIIPs Q&A
EFAMA is pleased to publish the revised version of its PRIIPs KID Q&A. The document aims at offering continued support to Euopean fund managemers and enable a common understanding of PRIIPs KID requirements.
Policy Position
Distribution ＆ Client Disclosures
Retail Investment
10 October 2022
ESMA’s Consultation paper on the review of the guidelines on MiFID II product governance requirements
EFAMA wholeheartedly supports ESMA’s objective of ensuring a consistent and harmonised application of the MiFID II product governance requirements. In our response to their consultation on the topic, we raised the following points:
Related news
Press Release
Distribution ＆ Client Disclosures
PRIIPs
24 November 2021
European Parliament votes on ‘quick fixes’ for PRIIPs and UCITS - EFAMA statement
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).
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 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.
Contact
