The EU Commission Contemplates Amendments to the Criteria Required to Qualify as a Professional Investor

Published 8 October 2021

PrintCategory: AIFs

The EU Commission has, as part of its strategy for retail investors, completed a consultation process that, among others, invited the industry to share its views on the existing professional investor categorization, including the introduction of a new category of professional investors, in MiFID II – see more here.

Currently, under MiFID II, retail investors are defined as those that do not qualify as professional investors and are subject to a number of additional investment protection measures, including additional disclosure information. In its consultation paper, the EU Commission suggests that for certain investors that currently fall under the retail investor category, these additional investment protection measures are not necessary. Therefore, the creation of a new category of professional investors would likely give a subset of investors a broader and more comprehensive access to alternative investment funds.

Next Step: The EU Commission expects to submit a comprehensive legislative package in the second quarter of 2022 as part of its strategy for retail investors, which, among others, will include a proposal that amends the criteria required to qualify as a professional investor .

Tags:  Marketing


Also tagged ‘Marketing’

22 Oct 2021AIFsEuVECAUpdates

ESMA has Issued Guidelines on Marketing Communication

The guidelines apply to all marketing communication addressed to investors or potential investors for AIFs, including amongst others when they are set up as EuVECAs.

Cross-BorderESMAMarketingPre-MarketingVenture Capital
14 Jun 2021AIFsInvestors RegulationUpdates

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

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

AIFMDMarketingPre-MarketingRetail Investors
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

Council Approves Regulation on Cross-Border Distribution of AIFs

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

Cross-BorderMarketingPre-MarketingVenture Capital
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

21 Nov 2022Impact and ESGUpdates

CSRD has been Passed by the European Parliament

The European Parliament has passed the Corporate Sustainability Reporting Directive (“CSRD”). CSRD replaces the Non-Financial Reporting Directive (“NFRD”), and introduces higher requirements of more detailed reporting, and a mandatory EU sustainability reporting standard.

ComplianceSustainability
27 Oct 2022Impact and ESGUpdates

Prohibition of Products Made with Forced Labour on the EU market

The European Commission has proposed a prohibition on making products made with forced labour available on the EU market as well as exporting such products from EU. The proposal shall be seen in connection with the proposal for a Directive on Corporate Sustainability Due Diligence (CSDD) adopted by the European Commission in February.

5 Oct 2022Impact and ESGUpdates

Invest Europe ESG Reporting Guidelines: Setting the Industry Standard for ESG Reporting

Invest Europe has published a set of ESG reporting guidelines with the aim of providing user-friendly and advanced guidelines on sustainability reporting within the European private capital sector.

Sustainability
30 Sep 2022Impact and ESGUpdates

Review of SFDR Article 9 Funds by the Swedish FSA

The Swedish Finansinspektionen has reviewed 30 Swedish-registered UCITS- and special funds with sustainable investment as their goal (SFDR article 9 funds). Finansinspektionen analyzed how fund managers met the requirements for providing sustainability-related information to investors.

Sustainability
25 Aug 2022Financial RegulationUpdates

The Application of New Rules on KID’s Postponed to 1 January 2023

On 6 September 2021, The EU Commission amended the EU delegated regulation for the presentation of the Key Information Document (“KID”).

KID / PRIIPS
1 Aug 2022Impact and ESGUpdates

New Guide on SFDR and EU Taxonomy Regulation

Invest Europe has published a comprehensive members guide on EU ESG reporting requirements for fund managers to clarify grey areas that exist around the day-to-day application of the regulation.

ComplianceDisclosure RequirementsSustainability