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Written by Angelos Delivorias (1st edition),
Crowdfunding, an open call to the wider public for raising money online, can help ensure that both individuals and companies get access to finance, especially in the seed and early growth stages of their projects or business. Member States with a developed crowdfunding market have designed bespoke regulatory regimes that differ from each other with regard to the conditions under which platforms can operate, their scope of permitted activities and the licensing requirements applicable to them. As a result of this diversity, cross-border flows remain limited and crowdfunding service providers face challenges in scaling up their operations. To remedy this, the Commission has proposed a regulation providing for uniform, proportionate and directly applicable requirements for the authorisation and supervision of crowdfunding platforms, together with a single point of supervision, and a directive exempting crowdfunding service providers from the scope of MiFID II.
Versions
- June 2018: ‘Establishing a basis for European crowdfunding service providers‘ (1st edition)
| Proposal for a Regulation of the European Parliament and of the Council on European Crowdfunding Service Providers for Business Proposal for a Directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments |
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| Committee responsible: | Economic and Monetary Affairs (ECON) | COM(2018) 99 COM(2018) 113 27.9.2017 |
| Rapporteur: | Not yet appointed | 2018/0047(COD) 2018/0048(COD) |
| Shadow rapporteurs: | Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) | |
| Next steps expected: | Initial consideration in committee | |
Read also ‘European crowdfunding service providers for business‘.
Listen to podcast ‘Establishing a basis for European crowdfunding service providers‘
