Date Published 27/10/2023
The Central Bank of Ireland (the “Central Bank”) is reported to have confirmed to Irish Funds, the industry association, that it is preparing a draft new chapter for the AIFMD Rulebook addressing requirements for ELTIFs under the revised ELTIF II regime. This is expected to focus on disclosures and regulatory reporting rather than to goldplate the product level rules contained in the revised European level legislation for this product.
Once this draft chapter is completed, the Central Bank is expected to issue a consultation paper (“CP”) regarding this new chapter dealing with the ELTIF in order to engage with the funds industry to finalise it. The consultation period for this CP is expected to be relatively short in order to ensure it can be put in place in time for the entry into force of the revised ELTIF.
Clerkin Lynch will continue to monitor and report on developments in this regard.