Publication of EU Legislation on the Cross-Border Distribution of Investment Funds
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July 17, 2019 TO: ICI Global EU Capital Markets Union Task ForceICI Global Regulated Funds Committee
International Operations Advisory Committee RE: Publication of EU Legislation on the Cross-Border Distribution of Investment Funds
As previously advised,[1] on 14 June 2019 Finance Ministers in the Council of the EU adopted the final text of a package of reforms designed to ease the cross-border distribution of investment funds. The Directive[2] and Regulation[3] were published in the Official Journal on 12 July. The Regulation will apply from 1 August 2019 (20 days later publication) and the deadline for Member State transposition is 2 August 2021 (2 years after publication).
Giles Swan
Director of Global Funds Policy, ICI Global
endnotes
[1] See Memorandum No. 31829, RE: Final EU Legislation on the Cross-Border Distribution of Investment Funds, available from https://www.iciglobal.org/iciglobal/pubs/memos/memo31829
[2] Directive 2019/1160 with regard to cross-border distribution of collective investment undertakings, available from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32019L1160&from=EN
[3] Regulation 2019/1156 on facilitating cross-border distribution of collective investment undertakings, available from https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32019R1156&from=EN