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By Dr. Sebastiaan Niels Hooghiemstra*
On 2 August 2021, Directive (EU) 2019/1160 (the “CBDD”) entered into force that, amongst, others, intended to introduce a more streamlined process for the de-notification of undertakings for collective investment undertakings in transferable securities (“UCITS”) and alternative investment funds (“AIFs”).
The rules are now a year in place and it appears that the interpretation of the new rules coming from the national competent authorities (“NCAs”) give unexpected avenues for making the process of de-notification simpler and more efficient in certain situations. This contribution provides an overview of the European de-notification process and discusses remaining ambiguities.
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