On 2 June 2016, as part of the ongoing CapitalMarkets Union (CMU) policy initiative, the European Commission launched aconsultation on the cross-border distribution of investment funds. TheCommission’s aim is to improve the passport system for funds, so that they canmore easily offer their services and compete in different markets. To this end,the consultation seeks to identify the main barriers to funds operating inmember states other than their own home state.
Input is sought from the public,including fund managers, investors, consumer groups, and those who market andsell funds, in order to gain an understanding of the remaining barriers tocross-border distribution. The consultation, which is open for comment until 2October 2016, specifically seeks feedback on the following areas:
- Marketing restrictions
- Distribution costs and regulatory fees
- Administrative arrangements
- Distribution networks
- Notification processes
- Taxation
Contributed by Audrey Giles
