On 25 March 2024 the European Commission published the delegated act: Regulatory Technical Standards (RTS) on the notifications for cross-border marketing and cross-border management of AIFs and UCITS. This had been adopted by the EU on 15 December 2023.
Background
In December 2022 ESMA published its Final Report on Draft technical standards on the notifications for cross-border marketing and cross-border management of AIFs and UCITs. This followed ESMA's consultation over the summer of 2022 to seek views on draft Implementing Technical Standards (ITS) and Regulatory Technical Standards (RTS) in relation to cross-border marketing and management of AIFs and UCITS within the EU. This included proposals for the information to be provided, as well as the content and format of notification letters to be submitted by UCITS, management companies and alternative investment fund managers (AIFMs) to the national competent authorities (NCAs) to undertake cross-border marketing or cross-border management activities in host EU Member States. AREF didn't respond to the consultation.
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