ESMA

European Securities and Markets Authority

Low Impact

ESMA updates ELTIF competent authorities list

Published

Mar 3, 2025

Topics

ELTIF, AIFM, Competent authorities, Regulatory reference data, Cross-border fund distribution

Executive Summary

ESMA has refreshed its list of competent authorities designated for the purposes of Regulation (EU) 2015/760 on European long-term investment funds, with the document marked “Last updated: 03/03/2025”. The publication identifies the national authorities to be used as the competent authority reference point for ELTIF-related supervisory interactions across EU Member States and EEA countries. It also reproduces Article 2(13) of the ELTIF Regulation, which links the “competent authority of the manager of the ELTIF” to the competent authority of the AIFM’s home Member State under Directive 2011/61/EU. This is not a new rule, technical standard, or reporting template change, and the source does not state a separate application date or implementation deadline. The main business impact is operational: firms should ensure ELTIF authorisation, marketing, governance, legal and regulatory-operations workflows use the current ESMA authority mapping, particularly where routing, contact ownership, or escalation depends on the relevant home or host authority.

What Changed

modifiedESMA ELTIF competent authority reference list refreshed

Prior update date and prior list content are not stated in the supplied ESMA document.

New

The current ESMA document carries the date “Last updated: 03/03/2025”.

modifiedEU and EEA supervisory routing map confirmed

Not stated in the supplied ESMA document.

New

The list covers EU Member States and the EEA countries Iceland, Liechtenstein and Norway.

modifiedDual-authority jurisdictions visible in the list

Not stated in the supplied ESMA document.

New

France lists AMF and ACP; Italy lists CONSOB and Banca d’Italia; Portugal lists CMVM and Banco de Portugal.

modifiedAIFM home authority linkage restated

Existing legal definition in Regulation (EU) 2015/760; the supplied list does not state that the definition has changed.

New

The list restates that the relevant authority is the AIFM home Member State competent authority within the meaning of Article 4(1)(q) of Directive 2011/61/EU.

Business Impact

Who is affected

Directly affected

EU and EEA AIFMs, ELTIF managers, fund management companies, legal teams, compliance teams and regulatory-operations teams responsible for ELTIF authorisation, marketing or supervisory correspondence.

Indirectly affected

depositaries, administrators, distributors, external counsel, regulatory technology vendors and outsourced filing teams that rely on client-maintained authority reference data.

Jurisdictions

European Union Member States, Iceland, Liechtenstein, Norway

Business processes

ELTIF authorisation and product approval routing, AIFM home-authority mapping and regulatory responsibility assessment, Cross-border marketing and distribution governance, Regulatory correspondence and supervisory query handling, Reference-data maintenance for competent authority registers

Estimated effort

Low

Compliance risk

Low

Affected Reports

ELTIF competent authority routing matrixAIFM home Member State authority reference-data registerELTIF authorisation and regulatory correspondence workflow controlCross-border fund distribution jurisdiction checklistOutsourced filing and counsel instruction pack

Field	Validation rule
Last updated date	Use 03/03/2025 as the control date for the ESMA ELTIF competent authority mapping.
Member State or EEA country	Map each ELTIF-related workflow to the jurisdiction entries shown in the ESMA list.
Competent authority name	Use the competent authority names stated in ESMA’s current ELTIF list for routing, reference data and correspondence controls.
Competent authority of the manager of the ELTIF	Apply the Article 2(13) ELTIF Regulation linkage quoted by ESMA: the relevant authority is the competent authority of the AIFM’s home Member State under Directive 2011/61/EU.

Recommended Actions

6 suggested next steps· derived from source analysis

1
AI generatedStep 1 of 6
refresh the firm’s ELTIF competent authority register against ESMA’s 03/03/2025 list and retain evidence of the review.
2
AI generatedStep 2 of 6
validate any automated workflow rules that route ELTIF authorisations, correspondence or escalations by jurisdiction.
3
AI generatedStep 3 of 6
check dual-authority jurisdictions in the list before submission or escalation, using local legal or compliance review where responsibilities are split.
4
AI generatedStep 4 of 6
update external counsel, administrator, depositary and outsourced filing instructions where they contain embedded competent authority references.
5
AI generatedStep 5 of 6
confirm that AIFM home Member State data remains aligned with Article 2(13) of the ELTIF Regulation and Article 4(1)(q) of AIFMD.
6
AI generatedStep 6 of 6
add the ESMA list to periodic regulatory reference-data monitoring, because the publication is a living reference list rather than a one-off rule change.

Timeline

other

Apr 29, 2015

Regulation (EU) 2015/760 on European long-term investment funds was adopted.

effective date

Dec 9, 2015

Regulation (EU) 2015/760 applies from this date, according to the regulation’s application provision.

publication

Mar 3, 2025

ESMA’s list of competent authorities designated for ELTIF Regulation purposes was marked as last updated.

Sources

AI-generated analysis is based on the following primary sources. Always verify against the official publication.

Official reference listEuropean Securities and Markets AuthorityMar 3, 2025
List of competent authorities designated for the purposes of Regulation (EU) 2015/760 on European long-term Investment funds (ELTIF Regulation) ↗
https://www.esma.europa.eu/sites/default/files/eltif_regulation.pdf
EU regulationEUR-LexApr 29, 2015
Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds ↗
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015R0760
EU directiveEUR-LexJun 8, 2011
Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers ↗
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061

Related Evidence

Verified source support for this analysis

The evidence agent checks whether the drafted finding is supported by official publications and relevant public source material.

Receive updates like this by email

Get AI-generated analysis for the regulators and topics you care about.