On 28 March 2019, the European Securities and Markets Authority (ESMA) published a consultation paper on draft regulatory technical standards (RTS) under Article 25 of the European Long-Term Investment Funds Regulation (ELTIF Regulation).
Article 25(3) of the ELTIF Regulation provides for ESMA to develop draft RTS to determine the costs disclosure requirements applicable to ELTIF managers. Sections 3 to 4 of the consultation give detailed explanations on the content of the proposed RTS and seek stakeholders’ input through specific questions. The full text of the RTS can be found in Annex V of the consultation paper.
The deadline for responses to the consultation paper is 29 June 2019. Responses will assist ESMA in finalising the draft RTS to be submitted to the European Commission for endorsement.