The EU Commission Proposes Amendments to the Regulation of European Long-Term Investment Funds
Published 6 January 2022
Category: ELTIFs
On 25 November 2021, the European Commission published its proposal to amend the Regulation of European Long-Term Investment Funds (ELTIFs) as part of a new Capital Markets Union (CMU) legislative package. The legislative package includes a review of the AIFMD. You can find more information about the AIFMD review here.
The proposal to amend the Regulation of European Long-Term Investment Funds (ELTIFs) aims to increase uptake of ELTIFs across the EU. Proposed changes include:
- the existing EUR 10,000 initial investment requirement and the maximum 10% aggregate threshold requirement for retail investors with portfolios below EUR 500,000 are removed;
- the threshold for investing in real assets is significantly lowered and the requirement that real assets are owned directly or via qualifying portfolio undertakings are removed;
- restrictive fund rules on portfolio composition and diversification as well as investment concentration are made more flexible; and
- the possibilities of borrowing cash are improved.
See the proposal for the amendments here.
What’s next: All elements of the legislative package will now be discussed by the European Parliament and the Council.
Tags: Retail Investors
Also tagged ‘Retail Investors’
ELTIF 2.0 in force
Today, 10 January 2024, the transition period for the regulation of 15 March 2023 amending the Regulation for Long-Term Investment Funds (ELTIFs), also known as ELTIF 2.0, has ended. Thus, ELTIF 2.0 has now completely entered into force.
ESMARegulatory Technical StandardsRetail InvestorsELTIF 2.0 now published in the OJEU
The amendments include a broader scope of eligible assets, a simplified definition of ‘retail assets’, which include lighter retail investor requirements, and an increased market capitalization threshold.
Retail InvestorsELTIF 2.0 Adopted
On 15 February 2023, the European Parliament has voted in favour of an update to the EU’s Regulation for Long-Term Investment Funds (ELTIFs), also known as ELTIF 2.0.
Retail InvestorsEuropean Commission has Launched a Public Consultation on a Retail Investment Strategy
On 11 May 2021, the European Commission launched a public consultation on a retail investment strategy for Europe.
AIFMDMarketingPre-MarketingRetail InvestorsNew Directive to Amend AIFMD has been Adopted
On 14 June 2019 the Council adopted the new directive amending i.a. the Alternative Investment Fund Managers Directive (AIFMD).
AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture CapitalEU Parliament Approves Final Compromise to Amend AIFMD
Highlights include a definition of pre-marketing, rules on de-notification in countries with no investor interests and rules on facilities made available to retail investors.
AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsCross-Border Distribution of Collective Investments Undertakings
On 16 April 2019, the European Parliament adopted the European Commission's initiatives to improve the efficiency of cross-border distribution of Alternative Investment Funds (AIFs) and EuVECA funds by increasing transparency and harmonising diverging national rules.
AIFMDCross-BorderMarketingPre-MarketingRetail InvestorsVenture CapitalOther updates
Repeal of rules regarding shareholder loans and other amendments to the Danish Companies Act
On 19 December 2024, the Danish Parliament has adopted the amendment acts L71 and L72 regarding amendments to the Danish Companies Act and other Danish laws.
Venture CapitalAbolition of the ‘entrepreneur tax’ and other changes to Danish tax legislation adopted
On 19 December 2024, amendments to the Danish Corporation Tax Act, the Danish Capital Gains Tax Act and the Danish Personal Tax Act, as well as other Danish tax laws, were adopted by the Danish Parliament.
Venture CapitalThe Danish Financial Supervisory Authority publishes guiding statement on alternative investment fund managers’ inclusion of leverage in unlisted companies and issuers
On 17 December 2024, the Danish Financial Supervisory Authority (Danish FSA) published a guiding statement regarding the inclusion of leverage by alternative investment fund managers (AIFMs) in unlisted companies and issuers.
AIFMDDanish RegulationESMAThe Danish FSAThe Danish FSA’s role in the sustainability reporting in 2025
The Danish Financial Supervisory Authority (“FSA”) has published a short press release regarding their role in relation to the sustainability reporting in 2025.
CSRDProposal on independent providers of audit services regarding sustainability reporting
The Danish Parliament has presented a proposal for legislation on independent providers of audit services regarding sustainability reporting.
CSRDInvest Europe launches enhanced ESG reporting template
Invest Europe has launched an enhanced ESG reporting template to drive convergence and support early-stage investors developed with Venture ESG.
CSRDSFDR