Distribution & Client Disclosures

EFAMA monitors issues surrounding fund distribution and disclosures to investors. These include investor protection and disclosure issues arising from the evolving PRIIPs and MiFID frameworks, the shift towards digital distribution tools, and the continued integration of ESG considerations into fund products.

Related policy positions

Policy position

Distribution ＆ Client Disclosures

PRIIPs

13 December 2022

EFAMA PRIIPs Q&A

EFAMA is pleased to publish the revised version of its PRIIPs KID Q&A. The document aims at offering continued support to Euopean fund managemers and enable a common understanding of PRIIPs KID requirements.

Policy Position

Distribution ＆ Client Disclosures

Retail Investment

10 October 2022

ESMA’s Consultation paper on the review of the guidelines on MiFID II product governance requirements

EFAMA wholeheartedly supports ESMA’s objective of ensuring a consistent and harmonised application of the MiFID II product governance requirements. In our response to their consultation on the topic, we raised the following points:

Policy Position

Distribution ＆ Client Disclosures

Retail Investment

07 July 2022

EU Commission targeted consultation on open finance framework and Data sharing in the financial sector

EFAMA appreciates the opportunity to comment on the European Commission's Targeted consultation on open finance framework and data sharing in the financial sector.

Advice-based distribution channels dominate European fund landscape

Latest EFAMA research shows banks hold a 57% market share in EU fund distribution

Today, the European Fund and Asset Management Association (EFAMA) published the latest edition of its Market Insights series, titled “Investment fund distribution channels in Europe”.

Policy Position

Girl flying the EU flag against a blue sky

Distribution ＆ Client Disclosures

Retail Investment

02 September 2023

EC "HAVE YOUR SAY" consultation on the EU Strategy for Retail Investors

In July the European Commission released their long-awaited Retail Investment Strategy, including multiple proposals aimed at boosting retail participation in capital markets. EFAMA has provided comments on this in their ‘Have your say’ forum, where we briefly highlight some of our main concerns.

Policy Position

Distribution ＆ Client Disclosures

Retail Investment

16 December 2022

Joint Industry letter on the importance of advice and preserving the commission-based model

EFAMA, together with EBF, Insurance Europe, EACB, EAPB, ESBG and EUSIPA, issued a public letter addressed to Vice-President Dombrovskis, Commissioners McGuinness and Director-General Berrigan, remarking the importance of advice for European retail investors and the need to maintain the coexistence of fee-based and commission-based advice.