The Council of the EU has published an “I” item note from its General Secretariat to the Permanent Representatives Committee (COREPER) which sets out the final compromise text of the proposed Regulation on European Long-Term Investment Funds (ELTIF Regulation). “I” Item Note.
ELTIF
Council of EU Publishes Compromise Proposal on ELTIF Regulation
On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission’s proposed Regulation on European Long-Term Investment Funds (ELTIF Regulation).
The ELTIF Regulation seeks to create a new type of investment fund available for retail and professional investors (an ELTIF). ELTIFS will be used as long term collective investment vehicles to invest in infrastructure projects and un-listed companies that issue equity or debt securities for which there is no readily identifiable buyer. ELTIFS will be subject to various investment constraints, such as a prohibition on short selling of assets and a prohibition on taking exposure to commodities. The ELTIF Regulation (2013/0214(COD)). Compromise Proposal. ELTIF Regulation.