6 Amendments of Brian HAYES related to 2016/0221(COD)
Amendment 124 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) The appropriateness of the definition of marketing and discrepancies in the interpretation of that concept/definition by national competent authorities were identified as one of the significant barriers to the cross-border distribution of funds as part of the Commission's work on a Capital Markets Union. In order to facilitate the efficient cross-border marketing of qualifying venture capital funds, and to take into account the specificities of EuVECA funds and the venture capital fundraising process, the circulation of draft fund documentation that does not include subscription documents, that is where no subscription is possible at that point in time, should not be considered as marketing.
Amendment 145 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) No 345/2013
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
(2a) In Article 10, the following paragraph is added: "2a. Where the value of the qualifying venture capital funds managed by the manager of qualifying venture capital funds is below EUR 250 000 000, own fund requirements shall represent one eighth of the preceding year's fixed overheads of the same manager."
Amendment 146 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 b (new)
Article 1 – paragraph 1 – point 2 b (new)
Regulation (EU) No 345/2013
Article 10 – paragraph 2b (new)
Article 10 – paragraph 2b (new)
(2b) In Article 10, the following paragraph is added: "2a. Where the value of the qualifying venture capital funds managed by the manager of qualifying venture capital funds exceeds EUR 250 000 000, the manager shall provide an additional amount of own funds. That additional amount of own funds shall be equal to 0.02% of the amount by which the total value of the qualifying venture capital funds exceeds the EUR 250 000 000."
Amendment 157 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 345/2013
Article 10 – paragraph 3a (new)
Article 10 – paragraph 3a (new)
3a. In Article 10, the following paragraph is added: "3a. Managers of qualifying venture capital funds in so far as they manage qualifying venture capital funds before [date of entry into force of the amended Regulation] may however continue to manage such qualifying venture capital funds without complying with the requirement set out in paragraph 2b of Article 10. Those managers shall ensure that they are able to justify at all times the sufficiency of their own funds to maintain operational continuity."
Amendment 201 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Regulation (EU) No 345/2013
Article 17 a (new)
Article 17 a (new)
Amendment 211 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
Regulation (EU) No 346/2013
Article 26 – paragraph 2 – subparagraph 1 a (new)
Article 26 – paragraph 2 – subparagraph 1 a (new)
(9a) In Article 26(2), the following subparagraph is added: "Parallel to the review in accordance with Article 69 of the Directive 2011/61/EU, the European Commission shall analyse and review the suitability of the definition of marketing for venture capital and the impact of this definition and differing national interpretations on the operation and viability of venture capital funds and on the cross-border distribution of EuVECA funds."