Following its September 2015 consultation, the European Commission has adopted a legislative proposal amending the EuVECA and EuSEF Regulations. The proposed Regulation will, among other things: (i) allow AIFMs which manage portfolios of qualifying venture capital and qualifying entrepreneurship funds to use the "EuVECA" and "EuSEF" designations respectively in relation to the marketing of those funds in the EU; (ii) expand the range of qualifying investments permitted under the EuVECA Regulation to allow investment in small mid-caps and small and medium-sized enterprises listed on SME growth markets; and (iii) prohibit competent authorities of host member states from imposing fees and other charges relating to cross-border marketing of EuVECA and EuSEF funds.