The European Commission has published the list of responses it has received to its September 2015 consultation paper on a review of the EuVECA Regulation and the EuSEF Regulation, which includes that of the FCA. HM Treasury and the FCA both welcome the Commission's consultation and its aim to make EuVECA and EuSEFs more attractive fund structures. However, the FCA queried a number of issues, namely amending the level 1 legislation and the minimum entry threshold for investment in a EuVECA or a EuSEF. The Commission has stated that it will publish a summary of responses "at a later stage". It intends to adopt a legislative proposal for a Regulation relating to its review of the EuVECA Regulation and the EuSEF Regulation in July 2016.