The cross-border marketing requirements released in December are intended to foster reporting convergence and facilitate cross-border activities, but will almost certainly result in an increase in cost for all Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIF) that need to comply with them. Increased costs
Cross-border marketing rules finalised by ESMA
Changes to the draft rules include some concessions to stakeholders, notably around marketing strategy and marketing target disclosure by firms.