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ESMA consultation on marketing communications | cross-border distribution

Monday, 7th December 2020
ESMA consultation on marketing communications | cross-border distribution

The European Securities and Markets Authority (ESMA) launched a consultation on 9 November 2020 on marketing communications under the Regulation on facilitating cross-border distribution of collective investment undertakings (discussed here). The purpose of the draft guidelines is to specify the requirements for marketing communications sent to investors in order to promote UCITS and AIFs, including EuSEFs, EuVECAs and ELTIFs. These requirements are that the material shall:

  • be identifiable as marketing material
  • describe the risks and rewards of purchasing units or shares of an AIF or units of a UCITS in an equally prominent manner
  • contain information which is fair, clear and not misleading

ESMA invites feedback on the proposed guidelines by 8 February 2021 and aims to issue final guidelines by 2 August 2020.

  • Picture of Nollaig Greene
    Nollaig Greene
    Senior Knowledge Lawyer, Asset Management & Investment Funds
    Nollaig Greene is an Associate and a Knowledge Lawyer specialising in asset management & investment funds law. Nollaig has worked within the Corporate Department since joining the firm in 1987. She has worked with the Asset Management & Investment Funds team since 1998.
  • Picture of Ann Shiels
    Ann Shiels
    Knowledge Lawyer, Asset Management & Investment Funds
    Ann Shiels is an Associate and Knowledge Lawyer in the Asset Management & Investment Funds team. Ann has over 20 years’ experience in the investment funds industry. She has worked in house as an Irish custodian and administrator, in practice in Jersey, Channel Islands and has been an associate in the Asset Management & Investment Funds team since 2008.