s a result of the consultation procedure and in implementation of the so-called CBDF Package (Cross-border fund distribution package, i.e. the Directive (EU) 2019/1160 and Regulation (EU) 2019/1156) on the cross-border distribution of units or shares of collective investment undertakings (UCIs), through Resolution No. 22437 of 6 September 2022, Consob has amended the Issuers’ Regulation (Consob Resolution No. 11971 of 14 May 1999, the so-called Issuers’ Regulation).
The amendments also implement the new pre-contractual disclosure requirements set forth in Regulation (EU) 2019/2088 (dealing with sustainability-related disclosure in the financial services sector, Sustainable Finance Disclosure Regulation, so-called SFDR) and Regulation (EU) 2020/852 (Taxonomy Regulation) for UCIs’ managers.
Among the main changes regarding the cross-border distribution, the new provisions regulate:
