Le­gal cer­tainty

Financial Mirror (Cyprus) - - FRONT PAGE -

“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

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