European Investors Facilities Services has been saved
European Investors Facilities Services
Our solution to the new regulatory requirements of Directive 2019/1160
The EU cross-border distribution of collective investment undertakings legislation (or EU Directive 2019/1160, “CBD”), which entered into force on 2 August 2021, applies to all undertakings for collective investment in transferable securities (UCITS) and alternative investment funds (AIFs). Amongst other obligations, it requires fund groups and asset managers to review the way they communicate regulatory information about their funds across European distribution countries.
In a nutshell, the CBD aims to facilitate the cross-border distribution of UCITS and AIFs across EU Member States by minimizing restrictions to the free movement of units and shares of EU collective investment undertakings. It must also provide more uniform protection for investors.
What does the CBD cover?
- The pre-marketing of AIFs.
- The alignment of national procedures for the de-notification of UCITS and AIFs.
- Dual notification, a new requirement to communicate any modifications to the UCITS notification letter to home and host Member States within one month. Do not hesitate to contact us should you have questions about this topic. See our Fund registration services page
- The obligation to provide facilities for AIFs and UCITS being marketed to retail investors, while abolishing the requirement for local agents.
What is European Investors Facilities Service?
Immediate compliance with the obligation to provide facilities to investors in all distribution countries
Deloitte’s European Investors Facilities Services (EIFS) is a centralized hub that:
Provides European investors with legal documentation (prospectuses, articles of incorporation, KI(I)Ds and financial reports) and fund-related information (NAV and how subscription/redemption/payments can be made);
Provides investors with the requested information in a durable medium;
Facilitates the handling of information and access to procedures and arrangements related to investor complaints and exercising investor rights;
Acts as a contact point for communications with competent authorities of the distribution countries; and
Complies with Articles 1 (4) 1. (b) to (f) and 2 (6) 1. (b) to (f) of Directive 2019/1160.
Local/paying agent required in 18 EU countries
Deloitte acting as central facility for local investors and regulators in 27 EU countries
Comply immediately and fully with the CBD’s facilities requirement through a turnkey solution.
Provide information to investors in the local languages of each EU Member State where the funds are marketed.
Harness the power of automation through a central hub in Luxembourg to majorly reduce your organization’s costs.
Replace all your current agreements with local facilities agents with one single contract, saving your organization time and resources.
Direct contact: single point of contact to cover all European countries.
Multi-lingual: we speak all European languages.
Tailored service: all end-investor requests are addressed according to your registration scope.
Proven track record: Deloitte enjoys strong relationships with all European financial authorities and key players in the investment management industry.
Safe and secure IT infrastructure: Deloitte’s solid IT infrastructure can manage all investor requests and respond within a very short timeframe.