Council Approves Regulation on Cross-Border Distribution of AIFs

Published 21 June 2019

PrintCategory: AIFs

On 14 June 2019 the Council adopted the new regulation on facilitating cross-border distributions of AIFs.

The new regulation establishes uniform rules on i.a. fees and charges, and it amends the EuVECA regulation to include a pre-marketing definition.

For more details please see Cross-Border Distribution of Collective Investments Undertakings.

Next Steps: The regulation will enter into force 20 days after the regulation is published in the Official Journey of the European Union (expected during June 2019). However, the EuVECA amendments shall apply from 2 years after the date of entry into force of this regulation and, thus, follows the time line for implementation of the AIFMD amendments, see New Directive to Amend AIFMD has been Adopted.

See the adopted text here.

Tags:  Cross-BorderMarketingPre-MarketingVenture Capital


Also tagged ‘Cross-Border’

6 Nov 2020Taxation / VATUpdates

Ruling on Taxation of SAFE

On 23 October 2020, the Danish Tax Agency published a ruling from the Danish National Tax Board regarding taxation of a SAFE (Simple Agreement for Future Equity) issuable by a US company.

Cross-BorderVenture Capital
23 Aug 2019AIFsArticlesEuVECA

Pre-marketing of AIFs and EuVECA Funds

Following the recent amendments to the AIFM Directive (“AIFMD”) and the EuVECA Regulation, this article discusses the new rules on pre-marketing covering both AIF and EuVECA Funds.

AIFMDCross-BorderPre-Marketing
21 Jun 2019AIFsEuVECA

New Directive to Amend AIFMD has been Adopted

On 14 June 2019 the Council adopted the new directive amending i.a. the Alternative Investment Fund Managers Directive (AIFMD).

AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture Capital
23 May 2019AIFs

EU Parliament Approves Final Compromise to Amend AIFMD

Highlights include a definition of pre-marketing, rules on de-notification in countries with no investor interests and rules on facilities made available to retail investors.

AIFMDCross-BorderMarketingPre-MarketingRetail Investors
16 Apr 2019AIFsArticlesEuVECA

Cross-Border Distribution of Collective Investments Undertakings

On 16 April 2019, the European Parliament adopted the European Commission's initiatives to improve the efficiency of cross-border distribution of Alternative Investment Funds (AIFs) and EuVECA funds by increasing transparency and harmonising diverging national rules.

AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture Capital
16 Apr 2019AIFsEuVECA

EU Parliament Approves Final Compromise on Proposed Regulation on Cross-Border Distribution of AIFs

The new regulation establishes uniform rules on i.a. fees and charges, and it amends the EuVECA regulation to include a pre-marketing definition.

Cross-BorderMarketingPre-Marketing

Other updates

8 Mar 2021AIFsUpdates

ESA Publishes Joint Supervisory Statement on the Interpretation on Fund Managers’ ESG Disclosure Obligations

From 10 March 2021, fund managers are required to make certain ESG disclosures available on their website and in their pre-contractual disclosures to investors.

AIFMDComplianceDisclosure RequirementsSustainability
5 Jan 2021AIFsUpdates

ESMA Consults on Guidelines for Marketing Communications for Cross Border Distributions of AIFs

ESMA has launched a consultation on guidelines on marketing communications under the cross border distribution of funds regulation.

AIFMD
22 Dec 2020Taxation / VATUpdates

New Employee Share Scheme for Small New Companies (Startups)

As of 1 January 2021 a new employee share scheme applies. This new employee scheme entails that certain new and small companies can award employees with shares, options and warrants up to 50% of the employee's annual salary while the employee will be subject to taxation as share income (up to 42% taxation) instead of personal income (up to approx. 55% taxation).

6 Nov 2020Taxation / VATUpdates

Ruling on Taxation of SAFE

On 23 October 2020, the Danish Tax Agency published a ruling from the Danish National Tax Board regarding taxation of a SAFE (Simple Agreement for Future Equity) issuable by a US company.

Cross-BorderVenture Capital
4 Nov 2020AIFsUpdates

New Requirements to Marketing of Non-EU AIFS in Denmark

EU and non-EU AIFMs submitting an application for marketing of non-EU AIFs to professional investors in Denmark will be subject to new requirements. The Danish FSA has issued a new Executive Order, which enters into force on 1 January 2021.

AIFMD
27 Oct 2020AIFsUpdates

The European Commission Publishes Consultation on the Review of the AIFMD

On 22 October 2020, the European Commission published its consultation on the review of the AIFMD seeking the views from stakeholders on how to achieve a more effective and efficient functioning of the European AIF market.

AIFMDAIFMD review