| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 80, Pages 1-23 |
| Publication Date | 20/03/2023 |
| Content Type | Blog & Commentary, Legislation, Policy-making |
Summary:Regulation (EU) 2023/606 - signed by the co-legislators on 15 March 2023 - introducing amendments to Regulation (EU) 2015/760 as regards the requirements pertaining to the investment policies and operating conditions of European Long-Term Investment Funds (ELTIFs) and the scope of eligible investment assets, the portfolio composition and diversification requirements and the borrowing of cash and other fund rules. This is a text with EEA relevance. Further information:European Long-Term Investment Funds (ELTIFs) invest on a long-term basis in infrastructure projects, real estate and SMEs, among others. Regulation (EU) 2015/760 sets out EU-wide rules for the authorisation, investment policies and operating conditions of ELTIFs. This Regulation amends the existing framework to increase the attractiveness of ELTIFs for investors and their role as a complementary source of financing for EU companies. It also seeks to make it easier for retail investors to invest in ELTIFs while ensuring strong investor protection. The draft was adopted by the European Commission on 25 November 2021 as part of a package of initiatives related to Capital Markets Union (CMU). The Council of the European Union adopted its general approach on 24 May 2022. The European Parliament's relevant committee adopted a negotiating position on 20 June. An informal agreement between the co-legislators on a compromise text for this file was reached on 19 October. This was formally endorsed by the European Parliament on 15 February 2023 and by the Council on 7 March. The Act was signed by the co-legislators on 15 March 2023 and published in the Official Journal on 20 March 2023. |
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| Source Link | http://data.europa.eu/eli/reg/2023/606/oj |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Capital Markets Union [CMU], Financial Services |
| International Organisations | European Union [EU] |
