European Commission Adopts Delegated Regulation Supplementing EuSEF Regulation


On February 1, the European Commission adopted a Delegated Regulation supplementing the European Social Entrepreneurship Funds (“EuSEF“) Regulation (346/2013) with regard to conflicts of interest, social impact measurement and information to investors (C(2019) 669 final).
The Delegated Regulation specifies:

  • The types of conflicts of interest, as referred to in Article 9, which managers of qualifying EuSEFs need to identify and manage.
  • The details of procedures to measure the extent to which qualifying portfolio undertakings, in which the EuSEF invests, achieve the impact to which they are committed (Article 10).
  • The content of investor information under Article 14.

The Delegated Regulation will enter into force 20 days after its publication in the Official Journal of the EU. It will apply six months after its entry into force. The next step is for the Delegated Regulation to be considered by the European Parliament and Council of the EU. Delegated Regulation.