Def­i­ni­tion con­sis­tency

Financial Mirror (Cyprus) - - FRONT PAGE -

“The un­cer­tainty of dif­fer­ent leg­isla­tive ob­sta­cles, mainly at the na­tional level of the mem­ber states, re­stricts to a large ex­tend the mar­ket­ing of funds”, Mudd ex­plained.

“Re­mov­ing bar­ri­ers mainly at na­tional level and clar­i­fy­ing def­i­ni­tions to have the same in­ter­pre­ta­tion across all mem­ber states are the key elements for the fa­cil­i­ta­tion of the cross-bor­der dis­tri­bu­tion of funds out­side of their domi­cile mem­ber states”.

Mudd went on: “For in­stance, the Al­ter­na­tive In­vest­ment Fund Mar­ket­ing Di­rec­tive (AIFMD) was in­tro­duced (and/or pro­posed for im­ple­men­ta­tion) in the 31 EU / EEA Mem­ber States and those which have im­ple­mented it into na­tional law and na­tional rules have ended up with sig­nif­i­cantly dif­fer­ent rules and reg­u­la­tions be­tween them. This was the ob­vi­ous re­sult of the flex­i­bil­ity and elas­tic­ity of rules and

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.