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ARTICLE · 14 JUNE 2021

Are You Ready For The EU's New Cross-Border Distribution Framework?

Arthur Cox
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The EU Cross-Border Distribution Framework introduces a new framework for the cross-border distribution across the EU of UCITS and alternative investment funds ("AIFs").

IrelandFinance and Banking
Kevin Murphy
Kevin Murphy
Tara O'Reilly
Tara O'Reilly
Dara Harrington
Dara Harrington
Cormac Commins
Cormac Commins
Ian Dillon
Ian Dillon
Siobhan McBean
Siobhan McBean
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The EU Cross-Border Distribution Framework1 introduces a new framework for the cross-border distribution across the EU of UCITS and alternative investment funds ("AIFs"). The majority of the most significant changes are expected to apply under local member state law from 2 August 2021. The purpose of this briefing is to highlight the preparations that fund managers should be undertaking in the months running up to the new framework coming into effect.

New Pre-Marketing Regime

Scope: The framework introduces a new concept of "pre-marketing" and the conditions for its use by EU authorised AIFMs. Importantly the pre-marketing regime does not apply to UCITS, registered/sub-threshold AIFMs or non-EU AIFMs. It remains to be seen whether individual EU member states will amend their national regimes to bring them in line with the provisions applicable to EU AIFMs.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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