ELTIF communiqué
The CSSF draws the attention of financial market participants and financial advisers to the following publication made on the website of the European Commission on 19 July 2024:
The document published on the website of the European Commission is not final. It still has to go through the EU legislative process. However, the CSSF would like to point out that the text as it stands states that the “Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union”, which is expected by the end of the year.
The CSSF draws your attention in particular to Recital 20 of the text which reads as follows: “Pursuant to Article 2, fourth subparagraph of Regulation (EU) 2023/606 of the European Parliament and of the Council, ELTIFs authorised before 10 January 2024 may choose to be subject to that Regulation. Accordingly, ELTIFs that do not choose to be subject to Regulation (EU) 2023/606 should remain subject to Commission Delegated Regulation (EU) 2018/480.”
The CSSF will communicate again once the document is final.