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Debates
Monday, 15 April 2019 - Strasbourg Provisional edition

Cross-border distribution of collective investment undertakings (Directive) - Cross-border distribution of collective investment undertakings (Regulation) (debate)
MPphoto
 

  Neena Gill (S&D). – Madam President, firstly, my sympathies on hearing about the fire at Notre Dame Cathedral. It is really very sad – a beautiful cathedral.

Now to the report. The smooth distribution of EU cross-border investment funds is hindered by national regulatory barriers. Of the EUR 14.3 trillion investment fund, 70% of total assets under management are held by funds authorised or registered for distribution only in the domestic market. Only 37% of UCITS and about 3% of alternative investment funds are currently registered for distribution in more than three Member States. This makes a Capital Markets Union rather meaningless. So four years on, this flagship project will finally reduce some barriers, increase transparency and remove overly complex and burdensome national rules. It is a win for the investors, getting more choice, better value and protection.

I welcome this reform as a critical step. However, to ensure, say that a Portuguese retail investor can be fully confident in investing in Latvian investment products, more work needs to be done in terms of the fees charged. My question to the Vice-President is: are there any preparations for greater transparency and standardisation on the capping of the fees charged?

 
Last updated: 30 April 2019Legal notice