Recital 10

(10)ESMA has conducted open public consultations on the provisions of the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits, and requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council ² . However, ESMA has not consulted on the draft implementing technical standards that specify the standard forms, templates and procedures for the communication of information by national competent authorities in relation to the national provisions governing marketing requirements and in relation to the regulatory fees and charges related to cross-border activities of AIFMs, EuVECA managers, EuSEF managers and UCITS management companies, and on the draft implementing technical standards that specify the information to be communicated by competent authorities as well as the forms, templates and procedures for the communication of information by competent authorities to ESMA for the purpose of the creation and maintenance of the central database on cross-border marketing of AIFs and UCITS and on the technical arrangements for the functioning of the notification portal as it would have been highly disproportionate to seek the stakeholders’ views on the provisions which only affect ESMA and competent authorities.