The EU Council has published a compromise proposal relating to the proposed Regulation amending the EuVECA Regulation and the EuSEF Regulation, which was published in July 2016. The compromise proposal includes changes relating to: (i) own funds – the Regulation is due to apply 3 months after its entry into force and, in order to avoid any disruption, existing managers will be provided with a derogation from rules on own funds under the Regulation; and (ii) information to be included in the application for registration – managers of both EuVECAs and EuSEFs are required to provide a list of Member States where they have established, or intend to establish, qualifying funds.