|
|
The Commission has published an industry report analysing the EU market for open-ended real estate funds, which provide investors with access to professionally managed investments in commercial and other types of property.
The report on open-ended real estate funds calls for the introduction of EU legislative arrangements to provide cross-border retail distribution of open-ended real estate funds.
The report concludes that the high level of similarity between the national rules represents a strong basis on which to harmonise rules around a common set of EU regulatory provisions. The Group expresses frustration that it is practically impossible to offer nationally regulated open-ended real estate funds to foreign retail investors on a cross-border basis.
The report recommends that EU legislation is required to overcome EU market access barriers. It presents a set of key features which could be used as the regulatory template for competitive investment products incorporating high levels of investor protection safeguards.
An open hearing will be held in