“A pivotal element for the efficient and continuous distribution of funds across a CMU is legal certainty,” FECIF Secretary General Paul Stanfield stated.
“What should have been a simple and cost efficient process – the cross-border distribution of AIFs - has unfortunately proved to be a very expensive and burdensome process. The creation of a CMU presupposes common definitions in relation to marketing and pre-marketing activities. Regrettably, the interpretations across the EU actually vary widely, which is the primary source of much uncertainty and confusion.
“The main question to be asked here is why there is no common definition between all member states? Why do market players