CP155 – Consultation on ELTIF chapter in the AIF Rulebook

The Central Bank of Ireland has proposed to update the AIF Rulebook with a dedicated chapter on ELTIFs. The AIF Rulebook, introduced in 2013, serves as a comprehensive guide for the regulation of AIFs and their managers under the AIFMD. The upcoming ELTIF chapter, to be positioned as Chapter 6, will encompass six sections divided into two parts:
Part I of the ELTIF chapter addresses restrictions, supervisory demands, prospectus specifications, general operational guidelines, and financial reporting requirements:
Section I outlines limitations and transparency obligations for ELTIFs to safeguard investor interests.
Section II details supervisory criteria to ensure proper operational policies and processes are in place.
Section III specifies prospectus requirements, including the information ELTIFs must disclose.
Section IV covers general operational requirements, such as financial resource rules and dealing regulations.
Section V concerns annual and half-yearly financial reporting guidelines.
Part II contains Section VI, addressing the marketing of ELTIFs to retail investors in Ireland, ensuring clear and transparent information is provided.
Annex I features a list of questions related to the proposed sections, while Annex II contains the draft of the new Chapter 6.
The Central Bank invites all interested parties to submit their comments on the proposed changes by 13 December 2023. Submissions should be made electronically to fundspolicy@centralbank.ie.