The text of the Commission Implementing Regulation (EU) 2021/955 has been published in the Official Journal and shall enter into force on 5 July 2021.
This lays down the ITS for the application of Regulation (EU) 2019/1156 on the cross-border distribution of investment funds. It sets out forms, templates, procedures and technical arrangements for the publications and notifications of marketing rules, fees and charges. It also specifies the information to be communicated for the creation and maintenance of the central database on cross-border marketing of AIFs and UCITS and the templates and procedures for the communication of such information.
Article 1 which addresses the publication by national competent authorities (NCAs) of applicable national laws, regulations and administrative provisions governing marketing requirements for AIFs and UCITS and related provisions in Article 3(1), requiring NCAs to notify ESMA of hyperlinks to the national rules, shall apply from 2 August 2021.
Article 5, which details the information to be communicated by NCAs to ESMA for the purposes of the creation and maintenance of a central database, shall apply from 2 February 2022.
Cross Border Distribution of Funds - Are you ready for changes coming into force on 2 August 2021 ?