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New regime on AIF cross-border distribution and ESMA guidelines: EU local perspectives and analysis of their impact on UK managers
This webinar will provide an overview on the new rules applicable to cross-border distribution of AIFs following the implementation of Directive (EU) 2019/1160 concerning the cross-border marketing and distribution of investment funds (the “CBDF regime”) and the associated ESMA guidelines on marketing communications. The presenters will discuss the varying implementation of the Directive across the EU and, in particular, the local differences in Luxembourg, Germany and France. They will also focus on the impact of the CBDF regime on funds sponsors or managers based in a third-country (such as the UK) who are either providing services to funds located in the EU or targeting EU investors.
Our specialists will highlight the benefits and drawbacks of the new regime and explain the extent to which certain jurisdictions have delayed implementation, or have gold-plated the regime, triggering a need for fund managers to take into account local specificities before starting pre-marketing and marketing activities. They will also pick out key points from the new ESMA guidelines on marketing communications, explain their interaction with existing local regulations on marketing and give some practical pointers on the impact for fund managers.