On January 25, the Autorité des marchés financiers (AMF), the French supervisory authority, published updates to its form for the authorisation of ELTIFs. The publication coincides with the enforcement of the new ELTIF Regulation on January 10.

The key issues addressed in the updates are as follows:

• The revised form aims to streamline authorization for both existing and new ELTIFs.
• The AMF guidance clarifies conditions for existing real estate collective investment undertakings (OPCI) and retail private equity investment funds (FCPR) seeking transition to ELTIF 2 entities. OPCIs and FCPRs established prior to January 1, 2024, may choose to transition to ELTIF funds under the provisions of the Monetary and Financial Code on SPFs provided they notify the AMF and individual investors. 
• Additionally, it is important to highlight that the ELTIF level 2 Regulatory Technical Standards have yet to be finalised. Consequently, funds should be prepared to disclose in line with final rules.