The consultation will be of particular interest to European Long Term Investment Fund managers and their trade associations, alternative investment funds managers and their trade associations, as well as institutional and retail investors investing into ELTIFs and their associations.
Articles 9(3), 18(7), 21(3), 25(3) and 26(2) of Regulation (EU) 2015/760 provide that ESMA shall develop draft regulatory technical standards to determine the criteria for establishing the circumstances in which the use of financial derivative instruments solely serves hedging purposes, the circumstances in which the life of a European long-term investment fund is considered sufficient in length, the criteria to be used for certain elements of the itemised schedule for the orderly disposal of the ELTIF assets, the costs disclosure and the facilities available to retail investors. This consultation paper represents the first stage in the development of the draft RTS and sets out proposals for their content on which ESMA is seeking the views of external stakeholders.
The consultation is open for comments until 14 October 2015.
Full Consultation Paper
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