European Economic
and Social Committee
European Private Equity and Venture Capital Association, EVCA
Summary of the initiative
Name
European Private Equity and Venture Capital Association, EVCA
Website(s)
Objective(s)
The document provides governing principles for the establishment and management of a private equity or venture capital initiative. They touch at the law; the contract; integrity; skill, care, and diligence; adequacy of resources; investor's interests; transparency; conflicts of interest; investors' assets. The governing principles are part of a package of guidelines which have been developed by EVCA in cooperation with their members with the involvement of their clients/investors (though they are not formally "endorsed" in any way by clients/investors). This set of guidelines includes valuation guidelines, reporting guidelines industry, governing principles and corporate governance principles.
This initiative is now replaced in its entirety by the “EVCA Professional Standards Handbook”, bringing together all the professional standards documents that had previously existed separately.
This initiative is now replaced in its entirety by the “EVCA Professional Standards Handbook”, bringing together all the professional standards documents that had previously existed separately.
Description of the Initiative
Obsolete case
Sector
Sector
Contact Point - Commission
FISMA C4
Self/Co-Regulation Basic Act
Self/Co-Regulation Basic Act
PRIVATE ACT
Year
2003
Title of Act
EVCA Governing principles
Geographical Coverage
Description
Description
Problems that lead to the introduction of Self/Co-Regulation and the adoption of the Founding Act
Risk of unethical behavior towards customers in private equity market; Money laundering.
Target Group(s)
Venture capital/private equity business
Type of Instrument(s)
Governing principles
Type of Financing
-
Type of Monitoring
| Conduct an initial survey of compliance capacity of future regulatees | Conduct regular visits and spot checks | Initiate complaints procedures | Maintain database of those bounded by the norms | Produce regular reports | Receive complaints and verify if norms were breached or not | Reflexive dialogue with the - stakeholders | Other | |
|---|---|---|---|---|---|---|---|---|
| European Commission | ||||||||
| National public authority | ||||||||
| International public authority | ||||||||
| Private regulator (code owner) | yes | |||||||
| Private independent party with a mandate (e.g. auditors) | yes | |||||||
| Self-appointed private parties (e.g. NGOs) |
Succinct description of the type of Monitoring
The conduct of the members is monitored by the EVCA and a special professional standards committee designated by the EVCA.
Type of Enforcement
| Faming, shaming and blaming | Judicial sanctions | Membership suspension/exclusion | Private fines | Other | |
|---|---|---|---|---|---|
| Private Regulator | |||||
| Private independent party with a mandate (e.g. auditors) | |||||
| Court system | |||||
| Alternative dispute resolution (ADR) / Online dispute resolution (ODR) |
Succinct description of the type of Enforcement
EVCA members will abide all rulings and regulations of the Professional Standards Committee.
Results of Commission Monitoring
Link / Reference of Evaluation
-
Downloads
SMO self- and co-regulation database - private code 56