Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Opinia w sprawie regulacyjnych standardów technicznych ELTIF zgodnie ze zmienionym rozporządzeniem ELTIF

22 April 2024

ESMA34-1300023242-167

Opinion on ELTIF regulatory technical standards under the revised ELTIF Regulation

Reasons for publication

The revised ELTIF Regulation provides that ESMA shall develop draft regulatory technical standards (RTS) to determine in particular the following: - the circumstances in which the life of a European long-term investment fund („ELTIF”) is considered compatible with the life-cycles of each of the individual assets, as well as different features of the redemption policy of the ELTIF; - the costs disclosure.

On 19 December 2023, ESMA published its final report on the draft RTS under the revised ELTIF Regulation and submitted it to the European Commission (the EC) for adoption .

On 8 March 2024, ESMA received a letter from the EC explaining that the EC’s analysis of the draft RTS is that „ESMA’s draft RTS do not sufficiently cater for the individual characteristics of different ELTIFs” and that „... it is necessary to take a more proportionate approach...