Introductory text

United Kingdom

Commission Implementing Regulation (EU) No 594/2014

of 3 June 2014

laying down implementing technical standards with regard to the format of the notification according to Article 17(1) of Regulation (EU) No 346/2013 of the European Parliament and of the Council on European social entrepreneurship funds

(Text with EEA relevance)

C1 C2

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 346/2013 of the European Parliament and of the Council of 17 April 2013 on European social entrepreneurship funds^f1, and in particular Article 17(5) thereof,

Whereas:

(1)

Article 17(1) of Regulation (EU) No 346/2013 requires the competent authority of the home Member State of a European social entrepreneurship fund (EuSEF) to notify host Member States and the European Securities and Markets Authority (ESMA) of events related to the passport of the managers of qualified social entrepreneurship funds. Article 22(3) of that Regulation also requires the competent authority of the home Member State inform the competent authorities of the host Member States of the removal of a manager of a EuSEF from the register.

(2)

Taking into account that a dedicated IT tool for that notification has not yet been developed by ESMA, the use of e-mail is the most appropriate format for this type of notification among competent authorities and to ESMA. Therefore, a list of relevant e-mail addresses should be established by ESMA and made known to all competent authorities.

(3)

This Regulation is based on draft implementing technical standards submitted by ESMA to the Commission.

(4)

Given the limited scope and impact of the format for notification and taking into account that only competent authorities are to use the specific form established, ESMA did not conduct public consultations relating to introducing this format notification. ESMA requested the opinion of the ESMA Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council^f2,

HAS ADOPTED THIS REGULATION:

Annotations

Modifications

C1: The “appropriate regulator” has power to make such provision as they consider appropriate by means of an instrument in writing to prevent, remedy or mitigate any failure of the provisions of this Regulation to operate effectively or any other deficiency arising from the withdrawal of the United Kingdom from the EU, see The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 1 (with saving on IP completion day by S.I. 2019/680, regs. 1(2), 11; 2020 c. 1, Sch. 5 para. 1(1))
C2: Regulation: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pts. 1, 3; S.I. 2023/779, reg. 2(d)

Footnotes

f1: OJ L 115, 25.4.2013, p. 18.
f2: Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority) (OJ L 331, 15.12.2010, p. 84).