ESMA_QA_1040

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1040

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Regulatory Context

Regulation : EuSEF

Level 1 Regulation: European Social Entrepreneurship Funds Regulation (EuSEF) Regulation (EU) No 346/2013

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: EuSEF

Subject Matter: Management of EuSEF and EuVECA by AIFMs

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Question

Submission Date: 11 November 2014

Can EuSEF and EuVECA managers that subsequently exceed the threshold of Article 3(2)(b) of the AIFMD set up new EuSEF and EuVECA funds once the threshold is exceeded?

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ESMA Answer

Answer Date: 11-11-2014

[ESMA 34-36-253 AIFMD Q&A, 1a] Yes. In accordance with Article 2(2) of the Regulations, EuSEF and EuVECA managers that subsequently exceed the threshold in Article 3(2)(b) of the AIFMD have to seek authorisation in accordance with the AIFMD and comply with the AIFMD requirements. These managers can continue using the EuSEF and EuVECA denomination in relation to the marketing of qualifying funds under the conditions set out in subparagraphs (a) and (b) of Article 2(2) of the Regulations. The Regulations, therefore, do not prohibit the managers in this situation from setting up and marketing new funds under the EuSEF and EuVECA denominations.

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This document was automatically extracted from the ESMA EMIR Q&A database.