ESMA · ESMA_QA_1045 Answer Published

Registration of EuSEF and EuVECA managers

Regulation
European Social Entrepreneurship Funds Regulation (EuSEF) Regulation (EU) No 346/2013
Topic
EuSEF
Submitted
2014-03-26
Answered
2014-03-26

Question

Should EuSEF and EuVECA managers register with their national competent authorities twice i.e. once under the AIFMD and once under the EuSEF and EuVECA Regulations?

Answer

[ESMA 34-36-253 AIFMD Q&A, 2] EuSEF and EuVECA managers have to register with the competent authority of their home Member State twice, once in accordance with the AIFMD, and once in accordance with the EuSEF and EuVECA Regulations. However, taking into account that the purpose of the EuSEF and EuVECA Regulations is to create a light regime that facilitates the cross-border activity of these managers, the double registration could take place simultaneously. National competent authorities are invited to simplify this process in order to avoid unnecessary repetition in the registration process.

This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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