NEW ESMA Guidelines For Fund Marketing Communications

ESMA has published its final report and Guidelines on Marketing Communications (the "Guidelines") which set out disclosure principles and requirements for any communications which market funds to EU investors. 

The Guidelines have been issued in the context of the new EU regime on the cross-border distribution of investment funds, which come into effect on 2 August 2021 (for further details on this regime please see our previous client update).

While the Guidelines bring a level of clarity and practical guidance to the requirements for marketing communications, notably they do not replace, i.e. they are in addition to, existing national requirements on the information to be included in marketing communications.