European Private Equity and Venture Capital Association, EVCA

Summary of the initiative

Name
European Private Equity and Venture Capital Association, EVCA
Objective(s)
The main objective of EVCA code of conduct is to set a number ethical 'commandments' for EVCA members. These commandments are further detailed in a series of specific codes and guidelines for the asset management sector.
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

    PRIVATE ACT
    Year
    2005
    Title of Act
    EVCA Code of conduct

    Geographical Coverage

    Global coverage
    Participating Countries
    Austria

    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)
    Code of conduct
    Type of Financing
    -
    Type of Monitoring
    Conduct an initial survey of compliance capacity of future regulateesConduct regular visits and spot checksInitiate complaints proceduresMaintain database of those bounded by the normsProduce regular reportsReceive complaints and verify if norms were breached or notReflexive dialogue with the - stakeholdersOther
    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 blamingJudicial sanctionsMembership suspension/exclusionPrivate finesOther
    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
    The enforcement of the code of conduct relies on the Professional Standards Committee designated by the EVCA board of directors. The code of conduct only specifies that 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 70