# Commission Delegated Regulation (EU) 2019/819 of 1 February 2019 supplementing Regulation (EU) No 346/2013 of the European Parliament and of the Council with regard to conflicts of interest, social impact measurement and information to investors in the area of European social entrepreneurship funds (Text with EEA relevance), Article 1: Types of conflict of interest

Extent: E+W+S+N.I.

For the purposes of Article 9(2) of Regulation (EU) No 346/2013, the types of conflict of interest shall be situations where a manager of a qualifying social entrepreneurship fund, a person who effectively conducts the business of that manager, an employee, or any person who directly or indirectly controls or is controlled by that manager, by another qualifying social entrepreneurship fund or a collective investment undertaking, including a UK UCITS (within the meaning given in section 237 of the Financial Services and Markets Act 2000 M1), managed by the same manager, or the investor therein:
(a)is likely to make a financial gain, or avoid a financial loss, at the expense of the qualifying social entrepreneurship fund or its investors;
(b)has an interest in the outcome of a service or an activity provided to the qualifying social entrepreneurship fund or to its investors which is distinct from the interest of the qualifying social entrepreneurship fund or its investors;
(c)has an interest in the outcome of a transaction carried out on behalf of the qualifying social entrepreneurship fund or its investors which is distinct from the interest of the qualifying social entrepreneurship fund or its investors;
(d)has a financial or other incentive to favour:
(i)the interest of an investor, a group of investors or another collective investment undertaking, including a UK UCITS, over the interest of the qualifying social entrepreneurship fund or its investors;
(ii)the interest of one investor in the qualifying social entrepreneurship fund over the interest of another investor or group of investors in that fund;
(e)carries out the same activities for the qualifying social entrepreneurship fund, another collective investment undertaking, including a UK UCITS, or an investor;
(f)pays or is paid any fee or commission, or provides or is provided with any non-monetary benefits, other than those laid down in Article 24(1) of Commission Delegated Regulation (EU) No 231/2013;
(g)influences and has a personal interest in influencing the development of a qualifying portfolio undertaking to the disadvantage of the qualifying social entrepreneurship fund or its investors or at the expense of the achievement of the objectives of the qualifying social entrepreneurship fund.

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Source: https://www.legislation.gov.uk/eur/2019/819/article/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2019-819/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.