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ESMA final report on draft RTS under the ELTIF Regulation:

On 8 June 2016 ,The European Securities and Markets Authority (ESMA) has published its Final Report and draft Regulatory Technical Standards (RTS) for Regulation (EU) 2015/760, the European Long-Term Investment Fund Regulation (ELTIF).

On 8 June 2016 ,The European Securities and Markets Authority (ESMA) has published its Final Report and draft Regulatory Technical Standards (RTS) for Regulation (EU) 2015/760, the European Long-Term Investment Fund Regulation (ELTIF). The RTS set out in the final report have been submitted to the European Commission for endorsement. The European Commission should take a decision on whether to endorse the RTS within three months. ESMA’s key proposals include (i) the criteria to determine the circumstances in which financial derivatives are used solely for hedging purposes; (ii) the life of an ELTIF should be determined with reference to the individual asset within the ELTIF portfolio which has the longest investment horizon; and a grandfathering provision, whereby ELTIFs have one year after the RTS come into force to comply with these rules.

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