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ARTICLE · 16 NOVEMBER 2017

The Amended EuVECA And EuSEF Regulations

Arendt & Medernach
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Regulation (EU) 2017/1991 amending regulations (EU) No 345/2013 on European Venture Capital Funds (EuVECAs) and (EU) No 346/2013 on European Social Entrepreneurship Funds...

LuxembourgFinance and Banking
Arendt & Medernach
Arendt & Medernach
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Regulation (EU) 2017/1991 amending regulations (EU) No 345/2013 on European Venture Capital Funds (EuVECAs) and (EU) No 346/2013 on European Social Entrepreneurship Funds (EuSEFs) (together, the "Regulations") has been published today in the Official Journal of the European Union and will be applicable as of 1 March 2018.

The amendments to the Regulations are a result of the European Commission's review process launched in 2016 which identified a lack of success of the two Regulations, especially that of the EuSEF regulation. Three main obstacles to a widespread use of the labels were identified during such review process: (i) the existence of certain limitations imposed on managers (both in term of size and dual requirements imposed under the regulations and the European alternative investment fund managers' directive (AIFMD)), (ii) the scope of eligible assets and (iii) the amount of costs/regulatory fees. The amending regulation aims at eliminating such obstacles,

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