Amending the EuVECA and EuSEF Regulations

Author (Corporate)
Series Title
Series Details September 2017
Publication Date September 2017
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Background
The European Venture Capital Funds (EuVECA) and European Social Entrepreneurship Funds (EuSEF) are collective investment schemes that have been harmonised at European Union (EU) level since 2011 by means of two regulations: (EU) No 345/2013 (EuVECA) and (EU) No 346/2013 (EuSEF).

In its 2016 review, the European Commission noted that these funds remain small and concentrated in a few Member States and that, while the take-up of EuVECA could be considered successful, the EuSEF results have been disappointing.

Three main obstacles to further growth have been identified: limitations imposed on managers; product rules; and the (varying) application of regulatory fees in Member States with regards to funds' marketing and management.

To overcome those obstacles, the European Commission has identified some measures in a legislative proposal in July 2016 that − by removing limitations on larger managers managing EuVECA and EuSEF funds, decreasing costs for EuVECA and EuSEF funds, and broadening the range of eligible assets EuVECA funds may invest in − should increase investment into these funds.
European Venture Capital Funds (EuVECA) and European Social Entrepreneurship Funds (EuSEF) are collective investment schemes that have been harmonised at European Union (EU) level since July 2013 by means of two regulations: (EU) No 345/2013 (EuVECA) and (EU) No 346/2013 (EuSEF).

The European Parliament was due to vote on a legislative proposal to amend these regulations during its September 2017 plenary.

Author: Angelos Delivorias

Source Link http://www.europarl.europa.eu/RegData/etudes/ATAG/2017/608668/EPRS_ATA(2017)608668_EN.pdf
Related Links
EP: EPRS: Briefing: EU Legislation in Progress http://epthinktank.eu/eu-legislation-in-progress/
ESO: Background information: Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 345/2013 on European venture capital funds and Regulation (EU) No 346/2013 on European social entrepreneurship funds http://www.europeansources.info/record/proposal-for-a-regulation-amending-regulation-eu-no-345-2013-on-european-venture-capital-funds-and-regulation-eu-no-346-2013-on-european-social-entrepreneurship-funds/

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