Regulatory / Industry Submissions

Today, we responded to ESMA’s consultation on the draft Regulatory Technical Standards on open-ended loan originating alternative investment funds.

The LMA welcomes ESMA’s approach in providing a harmonised implementing framework tailored to the specificities of OE LO AIFs, allowing managers to demonstrate to their respective NCAs that they can maintain an open-ended structure.

We believe that the framework should be aligned with market trends aimed at meeting investors’ increasing demands for alternative investment strategies with a liquid profile.

Read the full response here

The EU faces a complex global economic landscape with rising competition, rapid technological advancements, and the need for strategic investments. Strong banking, capital markets, and diverse financing channels are crucial to supporting European businesses—especially SMEs, scale-ups, and infrastructure projects—ensuring they can grow and compete globally

Please read the full response to see our recommendations to the Commission.

Thank you to all our buy-side and sell-side members who contributed their insights to the response. Your feedback has been instrumental in shaping the LMA’s response and ensuring that the collective voice of the market is heard.

Our key points focus on the need to take account of the diversity of:

(i) NBFIs themselves;

(ii) the activities they undertake; and

(iii) the ways in which they use leverage.

Click below to see the response.