European Commission has Launched a Public Consultation on a Retail Investment Strategy

Published 14 June 2021

PrintCategory: AIFs

On 11 May 2021, the European Commission launched a public consultation on a retail investment strategy for Europe.

The Commission is preparing a retail investment strategy for the first half of 2022. The purpose of the consultation is to gather views and evidence which will help the Commission to ensure that a legal framework for retail investments is suitably adapted to the profile and needs of consumers, helps ensure improved market outcomes, empowers retail investors and enhances their participation in the capital markets. The strategy will cover a range of initiatives designed to provide the necessary level of confidence and assurance for retail investors.

What’s next: The consultation ends on 3 August 2021 and is available here.

 

Tags:  AIFMDMarketingPre-MarketingRetail Investors


Also tagged ‘AIFMD’

22 Jun 2022Impact and ESGUpdates

Authorised AIFMs’ Integration of Sustainability Factors and Risks Applies from 1 August 2022

Authorized AIFMs shall from 1 August 2022 ensure that their systems, processes, and internal controls reflect relevant sustainability risks as defined in the SFDR.

AIFMDComplianceDisclosure RequirementsSustainability
26 Apr 2022Impact and ESGUpdates

Final Regulatory Technical Standards for SFDR and Taxonomy Regulation are Published

The RTS will define the new standard for sustainability-related disclosures in the financial services sector in the EU and supplements provisions of the SFDR and of the Taxonomy Regulation.

AIFMDComplianceDisclosure RequirementsSustainability
24 Jan 2022Impact and ESGUpdates

Invest Europe to set ESG Reporting Standards

In November 2021, Invest Europe released its Climate Ambition in which the association committed to contribute to the EU becoming climate-neutral by 2050 and pledged to help the P/E and VC industry move towards net zero. 

AIFMDComplianceDisclosure RequirementsSustainability
4 Jan 2022AIFsArticles

The European Commission’s AIFMD Review is Out

 On 25 November 2021, the European Commission published its long-awaited proposal to amend the AIFMD as part of a new Capital Markets Union (CMU) legislative package.

AIFMDAIFMD review
15 Dec 2021AIFsFinancial RegulationImpact and ESGUpdates

The Danish FSA: Significant Room for Improvement for SFDR Disclosures

The Danish FSA has assessed the quality of 4 pension companies and eight credit institutions' website disclosures with regards to information about their policies on the integration of sustainability risks in the investment decision-making process.

AIFMDComplianceDisclosure RequirementsSustainability
6 Dec 2021AIFsEuVECAUpdates

Danish FSA Clarifies New Pre-Marketing Rules

The pre-marketing rules provided by the Cross Border Directive was transposed into Danish law on 1 July 2021.

AIFMDCross-BorderPre-Marketing
6 Dec 2021AIFsFinancial RegulationImpact and ESGUpdates

Application of SFDR Level 2 Obligations Delayed (Again)

The European Commission has once again delayed the application of the level 2 obligations of the Sustainable Finance Disclosure Regulation (SFDR) until January 2023.

AIFMDComplianceDisclosure RequirementsSustainability
2 Sep 2021AIFsArticlesEuVECA

New Rules Preclude Sub-Threshold Fund Managers and Semi-Professional Investors from Pre-Marketing

On 1 July 2021, new rules governing pre-marketing activities of managers of alternative investment funds entered into force in Denmark. The new legislation incorporates the pre-marketing definition and requirements of the Cross-Border Directive into Danish law.

AIFMDCross-BorderPre-Marketing
1 Jul 2021AIFsEuVECAUpdates

New Pre-Marketing Regime has been Transposed into Danish law

The new pre-marketing regime provided by the Cross-Border Directive has by 1 July 2021 been transposed into Danish law.

AIFMDCross-BorderPre-Marketing
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
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
27 Oct 2020AIFsUpdates

Consultation on EU Rules for Long-Term Investment Funds

On 19 October 2020, the European Commission launched a public consultation on the European Long Term Investment Fund (“ELTIF”) legal framework.

AIFMDAIFMD review
12 Oct 2020Financial RegulationImpact and ESG

EU Commission Completes Consultation on EU Green Bond Standard

The Commission has completed a public consultation on the proposal for a EU Green Bond Standard. The consultation proposes to use the EU Taxonomy to define green bonds.

AIFMDSustainability
4 Sep 2020AIFs

ESMA Publishes Letter to the European Commission on the AIFMD Review

On 19 August 2020, ESMA published a letter to the Commission, outlining areas it should consider during the forthcoming review of the AIFMD.

AIFMDAIFMD reviewESMA
26 May 2020Impact and ESG

ESA Consults on Fund Managers’ ESG Disclosure Obligations

The European Supervisory Authorities (ESA) has published draft technical standards setting out detailed rules on i.a. fund managers’ obligations under the ESG Disclosure Regulation.

AIFMDComplianceDisclosure RequirementsSustainability
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
4 Jul 2019Financial Regulation

The EU Technical Expert Group on Sustainable Finance publishes their Taxonomy Technical Report

The report is part of the EU Commission’s overall effort to create a unified standard for sustainable economic activities in the European Union, which is expected to significantly impact the private equity and venture capital industry.

AIFMDDisclosure RequirementsGovernanceMarketing
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
30 Apr 2019Financial Regulation

ESMA Submits Report on Sustainability Risks and Factors in the AIFMD and UCITS Directive

On 30 April 2019, the European Securities and Markets Authority (ESMA) published its final report on integrating sustainability risks and factors relating to environmental, social and good governance considerations in the AIFMD and UCITS Directive.

AIFMDESMAGovernanceRegulatory Technical StandardsRisk ManagementSustainability
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
10 Jan 2019AIFs

Commision Releases Report on the Operation of AIFMD

The report confirms that AIFMD has significantly contributed to creating a market for alternative investment funds by establishing a harmonised regulatory and supervisory framework.

AIFMDAIFMD review

Other updates

2 Feb 2023Impact and ESGUpdates

EU unveils plan for future Net-Zero Industry Act and European Sovereignty Fund

Recently, the EU Commission presented a plan for a Net-Zero Industry Act and a European Sovereignty Fund as part of a bigger Green Deal Industrial Plan. The initiatives shall be seen in connection with the European Green Deal and the goal of making EU climate neutral by 2050.

Cross-BorderGovernanceSustainability
9 Jan 2023Impact and ESGUpdates

Requirements for Gender Composition in Managements have Tightened

On 1 January 2023 new rules have imposed stricter requirements for targets and policies on the gender composition of managements. These rules cover both large Danish companies (covered by accounting class C), including state-owned and some listed companies (covered by accounting class D), as well as certain companies within the financial area

ComplianceDanish RegulationSustainability
6 Jan 2023Impact and ESGUpdates

Final Report on Minimum Safeguards

The European Commission expert group; Platform on Sustainable Finance, has published a final report on the minimum safeguards laid out in Article 3 and 18 of the Taxonomy Regulation. It replaces the draft report published in July 2022.

ComplianceSustainability
6 Jan 2023Impact and ESGUpdates

Final Adoption of the CSRD

The CSRD has now been finally adopted after the Council of the European Union on 28 November 2022 approved the European Parliament’s position. On 16 December 2022, the directive was published in the Official Journal. The date of entry into force is 20 days from the publication date.

ComplianceSustainability
6 Jan 2023Impact and ESGUpdates

EU Legislation Takes Action Against Greenwashing

Lately, EU has sharpened its focus on preventing greenwashing as well as strengthening the sustainability reporting requirements. One step, among others, is the recent passing of the CSRD. Another is a proposal published in March 2022 by the European Commission with amendments for the Directive 2005/29/EC on Unfair Commercial Practices (UCPD) as well as the Directive 2011/83/EU on Consumer Rights.

Cross-BorderDanish RegulationSustainability
3 Jan 2023Taxation / VATUpdates

Amendments to the Danish Corporation Tax Act and the Danish Tax Assessment Act have entered into force

Following the amendments, enacted on 9 June 2022, the corporate tax rate applicable to financial companies has increased from 22 percent to 25.2 percent as per 1 January 2023 and will increase to 26 percent in 2024.

Danish RegulationManagement Remuneration