The European Securities and Markets Authority (ESMA) has published its final report setting out technical advice to the European Commission on the delegated acts of the Regulations on European Social Entrepreneurship Funds (EuSEF) and European Venture Capital Funds (EuVECA).

The report covers the advice on:

• the types of goods and services, methods of production for goods and services and financial support embodying a social objective;
• the conflicts of interest of EuSEF and EuVECA managers;
• the methods for the measurement of the social impact; and
• the information that EuSEF managers should provide to investors.

On the basis of the technical advice, ESMA will provide input to the European Commission on the development of the delegated acts.

View Final Report – ESMA’s technical advice to the European Commission on the delegated acts of the Regulations on European Social Entrepreneurship Funds and European Venture Capital Funds, 16 February 2015