Clifford Chance
European Long-Term Investment Funds Regulation – the UK prepares for launch
17 September 2015
The European Long-Term Investment Funds Regulation (ELTIFs Regulation), which is intended to increase the amount of long-term, non-bank finance available to companies and projects in the European Union, will apply in all member states from 9 December 2015.
The UK has recently taken steps to prepare for the introduction of ELTIFs, with the publication by the FCA on 3 September 2015 of a consultation paper on the changes to the FCA Handbook which are necessary for ELTIFs to operate effectively.
This briefing focuses on the main changes to the Investment Funds Sourcebook that will affect the AIFMs and depositaries of ELTIFs and outlines the legislative steps that are necessary to introduce the ELTIFs regime in the UK by the December 2015 deadline.
