EC Publishes a Proposal on EU Long-term Investment FundsMEDIA ROOM
On the 26th of June 2013, the EC (European Commission) issued a proposal for a new investment fund framework designed for investors investing in European Long-Term Investment Funds (ELTIFs).
The proposal covers the following areas:
[i] the authorisation procedure and the interplay with the existing rules;
[ii] the permissible investment policies and restrictions to be pursued by an ELTIF;
[iii] the redemption, subscription and distribution policy;
[iv] transparency requirements regarding the marketing of ELTIFs;
[v] the marketing rules applicable to an EU AIFM for marketing units or shares of an ELTIF to professional and retail investors; and
[vi] the rules on supervision.