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CROSSBORDER FEES FOR UCITS/AIFs

For UCITS/AIFs on-going supervisory fees please see Article 30 of Regulation ASF no. 2014/16 on the Financial Supervisory Authority’s revenues, corroborated with Annex 3 of the previously mentioned regulation, that should provide you with further information on the matter. Therefore, according to Regulation ASF No. 2014/16, an asset manager (ManCo/AIFM) established in other Member States should pay annually to ASF the fee stipulated in Annex. 3 (4,500 Lei), calculated for the number of funds/investment compartments (sub-funds) existing on 31 December of the year for which the payment is made.

The fee is paid by all ManCos/AIFMs which submit –through its home competent authority- to ASF a notification regarding the marketing activity intention, in the first 15 days of January for the marketing activity performed in the previous year.

By exception, the fee stipulated in Annex 3 should not be paid by the ManCos/AIMFs if there was no marketing activity in the year in which the ManCo/AIFM notified ASF of the marketing activity intention.

In this regard, ManCos/AIMFs should submit to ASF until 31 December of the year for which the fee is due, an affidavit affirming that no marketing activity was effectively performed in Romania in the year in which the ManCo/AIFM notified ASF of the marketing activity intention.

Also, ASF, through its specialized direction, cooperates with the NCA of the home Member State of the asset-manager, in order to verify the information on the marketing activity carried out in Romania.

Also, there is an endorsement/registration fee of 10,000 lei for AIFs from other member states/undertakings for collective investments from non-member states.

An official English version of Regulation ASF/2014/16 is available on our website, www.asfromania.ro , HERE . 

 

In case of discrepancies between the Romanian and the English text, the Romanian text shall prevail