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July 28, 2023
TO: Europe Regulatory and Policy Committee RE: ICI Global Draft Response to ESMA ELTIF RTS: Feedback Requested by August 4
The European Securities and Markets Authority (ESMA) launched a consultation on May 23 on the draft regulatory technical standards under the revised ELTIF Regulation (ELTIF 2.0). The consultation can be found here. Responses are due to ESMA by August 24.
We have prepared the attached, targeted response. It provides overarching comments on the need for the ELTIF framework to be flexible and principles-based so as not to stifle innovation and the attractiveness of the product, as well as specific feedback on the questions related to redemption policies and the related secondary market matching mechanism.
Please provide your feedback to me by Friday, August 4 at emykolenko@ici.org (or reach out if you would like to set up a call to discuss).
Eva M. Mykolenko
Associate Chief Counsel - Securities Regulation