Consultation on the implementing measures of the Regulations on EuSEF and EuVECA

Who should read this paper
This consultation paper is addressed to social entrepreneurs, impact investors, EuSEF and EuVECA managers, impact fund managers, business angels, venture capitalists and other relevant stakeholders and their associations in the area of social entrepreneurship and venture capital in the EU.
Responding to this paper
ESMA invites comments on all matters in this paper and in particular on the specific questions summa-rised in Annex 1. Comments are most helpful if they:•    indicate the specific question to which the comment relates and respond to the question stated;•    contain a clear rationale, clearly stating the costs and benefits; and•    describe any alternatives ESMA should consider.
ESMA will consider all comments received by 10 December 2014.
All contributions should be submitted using the response form, and uploaded at www.esma.europa.eu under the heading ‘Your input - Consultations’.
Publication of responses
All contributions received will be published following the close of the consultation, unless you request otherwise.  Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.
Data protection
Information on data protection can be found at www.esma.europa.eu under the heading ‘Legal Notice’.