European Securities and Markets Authority publishes third cross-border fund marketing report with first notification statistics led by Luxembourg and Ireland

The European Securities and Markets Authority has published its third report on marketing requirements and marketing communications under the Regulation on cross-border distribution of funds, concluding that national rules on fund marketing have not materially changed since the previous report in 2023. For the first time, the report also provides statistics on notifications for cross-border marketing of funds. Based on input from National Competent Authorities and data from the ESMA database of cross-border marketing notifications, Luxembourg and Ireland were the leading notifying jurisdictions, accounting for 59% and 30% respectively. UCITS notifications represented 56% of total notifications, with alternative investment funds accounting for 44%. The report will be submitted to the European Parliament, the Council and the European Commission.