ESMA_QA_1045

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1045

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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: Registration of EuSEF and EuVECA managers

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Question

Submission Date: 26 March 2014

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?

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ESMA Answer

Answer Date: 26-03-2014

[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.

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