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By Antoine KREMER and Marilyn RINCK, ABBL
Following up on its 2020 Capital Markets Union Action Plan, last week the European Commission published a further CMU package consisting mostly of legislative proposals reviewing the AIFMD and ELTIF regulation as well as modifications to MiFID/R and the creation of a European Single Access Point for market data. Given the importance of investment funds and depositary banking for the local financial centre, this article focuses primarily on the AIFMD and ELTIF revisions.
The ELTIF regime has far from fulfilled the hopes and expectations harboured by its creators. Although with 57 funds, according to the latest ESMA data, the 2.4 billion euros in assets under management seem like a drop in the ocean...
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