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The purpose of the hearing is to discuss the content of the advice with the representatives from the EuSEF and impact investment funds sectors, impact fund managers, impact investors, social enterprises, service providers and other stakeholders. The consultation paper sets out ESMA’s initial views on a number of key topics of the EuSEF framework, namely the key elements of the definition of social enterprise (i.e, types of goods and services, methods of production and financial support embodying a social objective), the methodology for the measurement of the social impact, the information that EuSEF managers should provide to investors and the management of conflicts of interest of EuSEF and EuVECA managers.
The consultation will close on 10 December. ESMA is expected to deliver its advice to the European Commission by end of April 2015. To attend the hearing, please sign up online.
Consultation on the Technical Advice