The European institutions have been working on a Regulation that will amend the European Venture Capital Funds & European Social Entrepreneurship Funds Regulations, to make it easier for qualifying Alternative Investment Funds to invest in SMEs. The backstory is here.
The Presidency has recently published an updated compromise proposal on the Commission’s proposed regulation. If the final amending Regulation is made and brought into force in this form, qualifying fund managers will be required to meet the regulatory capital and professional indemnity insurance requirements specified in the amending Regulation(s), instead of those that might have been developed and implemented as regulatory technical standards, with input from the European Securities and Markets Authority. More to follow …
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