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ESMA consults on draft ELTIF technichal standards

28 March 2019

The European Securities and Markets Authority (ESMA) has today opened a public consultation regarding draft supervisory technical standards (RTS) under the European Long-Term Investment Fund (ELTIF) Regulation.

ESMA is seeking stakeholders’ input on its draft RTS on various subjects that are critical for the functioning of the ELTIF Regulation. The draft RTS are 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 an ELTIF 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.

ELTIFs are designed to increase the amount of non-bank finance available for companies investing in the real economy of the European Union. They are also intended to allow investors to put money into companies and infrastructure projects for the long term. As such, ELTIFs are an important element of the efforts being put in place at European level to boost long-term investments.

The consultation is open for feedback until 29 June 2019.