Cross-border distribution of collective investment funds (Directive/Regulation)

The cep welcomes the proposal to remove the obligation for a physical presence. This can reduce distribution costs and facilitate market entry. From the cep's perspective, the proposal on UCITS and retail AIF reduces distribution costs and thus facilitates their market entry. However, in a market economy, there is no convincing reason to legislate on the conditions under which an investment fund manager may cease marketing its fund. The requirement that supervisory fees be proportionate to the costs of supervisors cannot be based on the internal market competence.