Source: European Parliament
On 30 September 2024, the ECON Committee will hold its second scrutiny session in the new legislative term to assess the delegated act adopted by the European Commission on 19 July 2024 (C(2024)4991) in accordance with Articles 9, 18, 19, 21, and 25 of the ELTIF Regulation.
More specifically, this delegated regulation comprises regulatory technical standards (RTS) specifying when derivatives will be used solely for hedging the risks inherent to other investments of the European long-term investment fund (ELTIF), the requirements for an ELTIF’s redemption policy and liquidity management tools, the circumstances for the matching of transfer requests of units or shares of the ELTIF, certain criteria for the disposal of ELTIF assets, and certain elements of the costs disclosure.
In this level 2 act, the Commission has exhausted the procedure on RTS laid down in Article 10(1) of ESMA Regulation and has amended the draft RTS with the modifications it considered relevant.
The Committee will look into the reasons that led the Commission to that decision. Experts from the European Commission and the European Securities and Markets Authority (ESMA) have been invited to this scrutiny hearing.