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By Dr. Sebastiaan Niels HOOGHIEMSTRA*
The European Securities Markets Authority (“ESMA”) has published on 23 May 2023 a Consultation Paper in which they propose regulatory technical standards with respect to the revised ELTIF regulation (the “ELTIF 2.0 RTS”).
The ELTIF 2.0 RTS contain draft wording with respect to a number of topics, including, amongst others, costs disclosures, a redemption policy and a matching mechanism. The “matching mechanism” is the main innovation introduced by Regulation (EU) 2023/606 (“ELTIF 2.0”) and relates to the possibility to have a liquidity matching mechanism, which would allow European long-term investment funds (“ELTIFs”) to include in their constitutive documents a fully or partial matching of transfer...
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