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Public consultation on cross-borders distribution of investment funds

CMU action on cross-border distribution of funds (UCITS, AIF, ELTIF, EuVECA and EuSEF) across the EU


The Commission is launching a consultation on the main barriers to the cross-border distribution of investment funds (UCITS and AIF) in order to increase the proportion of funds marketed and sold across the EU. Greater cross-border distribution allows funds to grow and become more efficient, allocate capital more efficiently across the EU, and compete within national markets to deliver better value and greater innovation.

This consultation supports the creation of a Capital Markets Union (CMU), of which a key aim is to foster retail and institutional investment of investment funds. This consultation is part of the Action Plan package and builds upon the replies received to both the CMU consultation and the Commission’s recent Call for Evidence on the EU regulatory framework for financial services. In order to build upon these consultations, tangible examples and where possible quantitative and financial evidence on the financial impact of the barriers are being sought in particular, in addition to broader responses. The Commission will use this information as a basis for taking action to address the cross-border barriers to distribution.

Target group

All citizens and organisations are invited to contribute to this consultation. Contributions are particularly sought from respondents who have an interest and/or experience in cross-border distribution of, or investment in, investment funds.

How to submit your response

Please note that in order to ensure a fair and transparent consultation process only responses received through the online questionnaire will be taken into account and included in the report summarising the responses.

Reference documents and other related consultations

Contact details

Responsible services:
DG Financial Stability, Financial Services and Capital Markets Union
Unit C4 – Asset management
Postal address:
European Commission
SPA2 02/076
1049 Brussels

Protection of personal data and privacy statement

Results of consultation and next steps

We have received 62 responses and thank all those who have contributed to this consultation.

The summary of responses will be published below at a later stage.