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19 July 2004

Business Angel-Led Enterprise Capital Funds: a consultation on proposed changes to the Regulated Activities Order

‘Bridging the finance gap: next steps in improving access to growth capital for small businesses’ announced the Government’s intention to launch a pathfinder round of Enterprise Capital Funds (ECFs). One of the objectives of the pathfinder is to test the appetite for ECFs amongst groups of business angels seeking to manage their own funds.  Recognising that regulatory compliance costs may discourage groups of angels from submitting bids for ECFs, this consultation proposes to exclude business-angel led ECFs from having to be authorised by the Financial Services Authority when carrying out certain activities under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.

'Business Angel-Led Enterprise Capital Funds: a consultation on proposed changes to the Regulated Activities Order' is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

PDF file Business Angel-Led Enterprise Capital Funds: a consultation on proposed changes to the Regulated Activities Order  (343kb)

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