Regulatory Alerts2021-08-02
Added · Updated
Guidelines on marketing communications under the Regulation on cross-border distribution of funds
These guidelines apply to UCITS management companies, Alternative Investment Fund Managers, EuVECA managers, and EuSEF managers, requiring that all marketing communications be clearly identified as such with prominent disclosures and disclaimers. They mandate that risks and rewards be described in an equally prominent manner, with font sizes and positioning ensuring equal visibility, and prohibit referring to rewards without corresponding risk descriptions. Marketing communications must be fair, clear, and not misleading, consistent with legal documents, and adapted to the target investor group, including specific requirements for retail investors regarding language and complexity. The guidelines become applicable six months after publication on ESMA’s website in all EU official languages.
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