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

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.

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:

EFAMA welcomes final agreement on legislation facilitating cross-border distribution of funds

We welcome yesterday's vote by the European Parliament plenary, formally adopting the trilogue agreement on the Commission's initiative to remove cross-border barriers to the distribution of investment funds.

This marks a decisive recognition of the need to postpone the application of the PRIIPs disclosure regime for UCITS by two years, in light of the regime's documented shortcomings. It also allows the European Commission more time to conduct a thorough review of the same within one year.

Press Release

Capital Markets Union

Distribution ＆ Client Disclosures

PRIIPs

04 December 2018

EFAMA welcomes the vote of the European Parliament's ECON amending proposal on cross-border distribution of funds

The Committees vote confirmed important amendments to the Commissions original proposal, i.e. extending the premarketing definition to established EU AIFs and removing the numerical thresholds conditioning the de-notification of funds from host jurisdictions.