On July 12, 2019, the following new EU directive and regulation
on cross-border distribution were published in the Official Journal
of the European Union:
- the Directive (EU) 2019/1160 of the European Parliament and of
the Council of 20 June 2019 amending Directives 2009/65/EC and
2011/61/EU ("AIFMD") regarding
cross-border distribution of collective investment undertakings
("Directive 2019");
- the Regulation (EU) 2019/1156 of the European Parliament and of
the Council of 20 June 2019 ("Regulation
2019") on facilitating cross-border distribution of
collective investment undertakings and amending Regulations (EU)
no. 345/2013, (EU) no. 346/2013 and (EU) no. 1286/2014.
The Directive 2019 and Regulation 2019 introduce a new regime
for investment funds with the aim to: eliminate current regulatory
barriers to the cross-border distribution of funds, improve
transparency by aligning marketing requirements and fees, harmonize
national rules for the verification of
