Download or read book The EU Crowdfunding Regulation written by Pietro Ortolani and published by Oxford University Press. This book was released on 2022 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an in-depth and timely analysis of the EU Crowdfunding Regulation. Striking a balance between academic scrutiny and practical context, and drawing upon various aspects of financial law, consumer law, and dispute resolution, it is invaluable for practitioners and academics seeking to understand an innovative alternative mode of funding.
Download or read book Regulation on European Crowdfunding Service Providers for Business written by Eugenia Macchiavello and published by Edward Elgar Publishing. This book was released on 2022-12-13 with total page 929 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative Commentary boasts contributions from internationally renowned experts with extensive and diverse backgrounds, providing a comprehensive, critical, article-by-article and thematic analysis of the EU Regulation No 1503/2020 on European Crowdfunding Service Providers for Business (ECSPR). Chapters analyse Member States’ adaptation of their legal frameworks to the ECSPR, underlying similarities, divergences, additional problematic issues and residual regulatory fragmentation.
Download or read book The European Crowdfunding Regulation Towards Harmonization of Equity and Lending Based Crowdfunding in Europe written by Sebastiaan Niels Hooghiemstra and published by . This book was released on 2020 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 8 July 2020, the Council published the last version of the European crowdfunding regulation ('CFR'), as well as a related directive to amend MiFID II. Although both the regulation and related directive now need to be adopted by the European parliament before it can be published in the Offical Journal and enter into force, it is expected that this version will be unanimously adopted. Given that no substantial changes are to be expected, it makes it worthwhile to explore the CFR and the impact it is likely going to have already in this stage.The CFR seeks to facilitate the scaling up of crowdfunding services across the internal market to increase access to finance for entrepreneurs, start-ups, scale-ups and SMEs in general. Till now, crowdfunding services have not been subject to EU action. Crowdfunding service providers ('CSP') were therefore subject to the different national frameworks implementing existing EU law that hindered the emergence of a European market for crowdfunding. The EU regime seeks to create a level playing field by introducing a harmonized EU legal framework for these service providers. Correspondingly, the CFR introduces a European passport for CSPs.This contribution seeks to assess whether and to what extent the CFR will lead to harmonization of (equity- and lending-based) crowdfunding in Europe. To that end, this contribution evaluates several relevant aspects of the CFR, including its scope, 'platform', sales and marketing regulation that target CSPs.
Download or read book Crowdfunding in Europe written by Dennis Brüntje and published by Springer. This book was released on 2015-08-20 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crowdfunding is becoming an increasingly popular method to finance projects of every kind and scale. This contributed volume is one of the earliest books presenting scientific and research-based perspectives of crowdfunding, its development, and future. The European Crowdfunding Network (ECN) and its scientific work group, together with FGF e.V., invited both researchers and practitioners to contribute to this first state-of-the-art edited volume on crowdfunding in Europe. This book contributes to a better comprehension of crowdfunding, encourages further fundamental research and contributes to a systematization of this new field of research. The book also features expert contributions by practitioners to enhance and complement the scientific perspective. This book can be used as a guideline and shall advance classification in an emerging research field.
Download or read book Will the Proposed European Crowdfunding Regulation Lead to a True European Market for Crowdfunding written by Sebastiaan Niels Hooghiemstra and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 8 March 2018, the European Commission published a proposal for a crowdfunding regulation (hereafter: 'CFR') as well as a proposal to amend MiFID II . The CFR proposal seeks to facilitate the scaling up of crowdfunding services across the internal market to increase access to finance for entrepreneurs, start-ups, scale-ups and SMEs in general. Till now, crowdfunding services have not been subject to EU action. Crowdfunding service providers (hereafter: 'CSP') were therefore subject to the different national frameworks implementing existing EU law that hindered the emergence of an European market for crowdfunding. The EU regime seeks to introduce a level playing field for these service providers provided that these providers comply with harmonized EU legislation.This contribution seeks to assess whether and to what extent the CFR proposal will lead to a 'true' European market for (investment- and lending-based) crowdfunding. To that end, this contribution evaluates several relevant aspects of the CFR, including its scope, 'platform', sales and marketing regulation that target CSPs.
Download or read book Legal Aspects of Crowdfunding written by Caroline Kleiner and published by Springer Nature. This book was released on 2021-11-05 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a comparative perspective on 18 countries’ legal regulation of crowdfunding. In the wake of the financial crises of 2008, use of this alternative financing method has increased substantially, in various forms. Whereas some states have adopted tailor-made regimes in order to regulate but also encourage this way of financing projects, allowing loans to be made by non-banking institutions, others still haven’t specifically addressed the subject. An analysis of these diverse legislative stances offers readers a range of legal solutions for managing crowdfunding activities with regard to e.g. protecting investors, imposing limits on project owners, and finally the role and duties of intermediaries, i.e., companies operating crowdfunding platforms. In addition, the content presented here provides a legal basis for states and supranational organizations interested in regulating this phenomenon to achieve more legal certainty.
Download or read book Advances in Crowdfunding written by Rotem Shneor and published by Springer Nature. This book was released on 2020 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book presents a comprehensive and up-to-date collection of knowledge on the state of crowdfunding research and practice. It considers crowdfunding models and their different manifestations across a variety of geographies and sectors, and explores the perspectives of fundraisers, backers, platforms, and regulators. Gathering insights from a wide range of influential researchers in the field, the book balances concepts, theory, and case studies. Going beyond previous research on crowdfunding, the contributors also investigate issues of community, sustainability, education, and ethics. A vital resource for anyone researching crowdfunding, this book offers readers a deep understanding of the characteristics, business models, user-relations, and behavioural patterns of crowdfunding.
Download or read book Crowdfunding for SMEs written by Roberto Bottiglia and published by Springer. This book was released on 2016-06-06 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crowdfunding for SMEs: A European Perspective provides a valuable insight into this new source of capital. In particular, the authors focus on financial return crowdfunding, which repays the crowd either through debt or equity. This source of capital might play a significant role in the future becoming an alternative or a complement to traditional funding sources. It is therefore of the uttermost importance to understand what has boosted its exponential growth in recent years, as well as the key drivers of success of P2P lending and equity crowdfunding campaigns on both the funders and the fundraisers side. Due to the financial nature of the return provided to the crowd, financial return crowdfunding has been the object of recent waves of regulation, although the European Union still lacks a set of common rules. The aim of regulation should be twofold, to protect investors and, at the same time, to favor the financing for SMEs. In this book, the authors explore such issues and the regulatory policies, while looking to the future of financial return crowdfunding as an evolving source of capital.
Download or read book The Need for Suitability and Appropriateness in Crowdfunding Regulation written by Maria Lucia Passador and published by . This book was released on 2019 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fueled by the rapid development of innovative offerings designed to meet the needs of financial institutions, the FinTech sector witnessed a sharp increase over the past few years, thus requiring a constant update of financial regulation to keep pace with the evolution of the 21st century markets. In this context, raising arm's length finance from dispersed investors thanks to crowdfunding undeniably represented one of the first and foremost complementary sources of funds for new companies which are preferred to traditional ones. In order to pursue their goals, thanks to the relevant technological improvement, funders are allowed to raise money in return for equity shares, interests, products, services, or even for the sake of donation.After sketching the major points of crowdfunding regulations - focusing primarily on the pioneering, Italian system - and after considering the rules of conduct in the field of investment services both in theory and in practice, the present piece will explore how the rules of suitability and appropriateness combine with financial regulation 2.0 and, specifically, with crowdfunding. The aim of the study is to support the conclusion that (i) crowdfunding deserves attention in light of the growing importance it assumed at the international level and in light of the Markets in Financial Instruments Directive evolution in the field of investment services; (ii) although harmonization might seem bold in the current scenario, especially in light of the Report on Crowdfunding in the EU Capital Market Union, it would represent a valuable aim to be pursued by the legislator.--The topic is explored through a comparative lens -- outlining a detailed framework of the characteristics of the platforms; focusing on the Italian experience, as it was the first (at least European) country where there was a specific regulation on the topic; providing suggestions for policymakers and ideas for further research -- in :Passador, Maria Lucia, Crowdf(o)unding in context (2016), in Handbook of Global Financial Markets Transformations, Dependence, and Risk Spillovers, edited by Sabri Boubaker and Duc Khuong Nguyen, World Scientific, 2019, chapter 24, 611-645.The paper was written in 2016, and is intended to be updated to that date, as it was not possible to intervene during printing.
Download or read book Cross Border Crowdfunding Towards a Single Crowdfunding Market for Europe written by Dirk A. Zetzsche and published by . This book was released on 2017 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crowdfunding has experienced rapid growth in some EU Member States. However, home bias by investors and regulatory barriers prevent the crowd and the project from moving freely across borders. Crowdfunding has, for the most part, remained a phenomenon of those larger Member States that 'draw a crowd', with a population large enough to make a crowdfunding website an economically feasible undertaking. In turn, crowdfunding has remained a mainly national issue, prompting the European Commission to conclude that there is no need for a harmonization of crowdfunding rules in Europe. In contrast to the European Commission's Capital Market Action Plan, this paper takes the view that national limitations on crowd investing and crowd lending de facto are the result of limits de iure. Given that no European passport is tailor made or fits crowdfunding, this source of financing is doomed to remain national. Moreover, with different legal requirements in Member States, European law hinders the development of cross-border crowdfunding within the region. This is particularly true for smaller Member States whose populations are too small to constitute 'a crowd'. This paper details how European regulators could facilitate a Single European Crowdfunding Market while limiting both the risks for investors and the regulatory burden for crowdfunding platforms and recipients. In light of the regulatory experience with other financial products and the segregating effect of product-based approaches, many of which exist in the EU/EEA Member States, we believe existing product regulation is insufficient to enable a European cross-border crowdfunding market. Instead, regulation based on the 'MiFID light' framework could function as basis for a cross-border crowdfunding manager passport, given the minimum protection it affords both investors and the financial system, and the low costs it imposes on the platform. Following the (1) too-small-to-care, (2) too-large-to-ignore, and (3) too-big-to-fail development path of FinTech business models, we suggest adding a relevance threshold of EUR250,000 in transaction volume to the MiFID light framework and imposing regulation to address systemic risk concerns for very large crowdfunding platforms that may arise in the future.
Download or read book Crowdfunding Overview of the Industry Regulation and Role of Crowdfunding in the Venture Startup written by Igor Micic and published by Anchor Academic Publishing (aap_verlag). This book was released on 2015-02 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to take stock and systemize existing knowledge on crowdfunding while providing overview of the industry, its regulatory environment and advancing the insight into the role of crowdfunding in the startup lifecycle. It is adopting an exploratory and phenomenon-based approach which is deemed appropriate when investigating rather new phenomena. Furthermore, the research combines survey and interview methodologies to assess the opinion and real-world behavior of different stakeholders in crowdfunding marketplace and identify gaps requiring further academic consideration. Empirical data was gathered using multiple interactive web-based questionnaires distributed to different stakeholders and “informed general public” mainly through the social networks (Linkedin, Facebook and Twitter) and direct solicitation of entrepreneurial associations, networks and online communities. The study conducted relies on both qualitative and quantitative analysis in attempt to find data patterns useful in future research and establish some managerial and policymaker recommendations based on limited evidence collected. The work adds value to this field through a 3-fold contribution: Taking a look at crowdfunding through the prism of SWOT analysis of the practice itself and Porter’s 5 forces analysis of crowdfunding platforms industry. Providing evidence in favor of implementing various degrees of regulation based on different crowdfunding categories, using the Italian case of equity-based crowdfunding regulation as a model. Finally, it yields some interesting findings on relevance of crowdfunding in the venture startup while pointing out key motivators which make entrepreneurs consider this fundraising option. In addition, related policymaker/managerial implications are exposed and academic literature updated with reference to contemporary developments in this dynamic field.
Download or read book Crowdfunding in the EU written by Thomas Dulak and published by . This book was released on 2018 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Crowdasset Crowdfunding For Policymakers written by Oliver Gajda and published by World Scientific. This book was released on 2020-06-03 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crowdfunding is already transforming the way many entrepreneurs and enterprises around the globe think about community engagement and fundraising for various causes. This book puts forth the belief that policymakers, public servants and various governments, municipalities and regions can significantly benefit from crowdfunding through employing crowd-related mechanisms within their frameworks and using their crowd as an asset — a crowdasset. Using real-world examples, this book explores the opportunities presented by crowdfunding and crowdfunded innovation, and how major policymakers are already using crowdfunding and crowd mechanisms to accelerate innovation, engagement and community transformation. A guide for those involved in crowdfunding, CrowdAsset brings readers through the journey of maximising crowd impact.
Download or read book Digital Finance in Europe Law Regulation and Governance written by Emilios Avgouleas and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-12-20 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.
Download or read book Crowdfunding in the Context of European Regulation written by Sebastian Steib and published by . This book was released on 2016 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EU Banking and Financial Regulation written by Jean-Baptiste Poulle and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 761 pages. Available in PDF, EPUB and Kindle. Book excerpt: EU Banking and Financial Regulation presents a comprehensive and systematic overview of the major directives and regulations which currently govern the EUÕs banking and finance industries. Offering a depiction of the main EU rules, this timely book not only addresses the various banking and financial legislations relating to EU supervisors, banks and financial markets, but also considers more peripheral issues such as anti-money laundering, whilst referring to important case law.
Download or read book Prospects for Future EU Legislation on Crowdfunding and Initial Coin Offerings written by Georg Gutfleisch and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: With its recent proposal regarding a new regulation on European Crowdfunding Service Providers (ECSP) for Business, the European legislator made a first important step toward the implementation of a new regulatory framework for Crowdfunding in Europe. This article aims to provide an overview and to discuss certain major European aspirations to reform the European legal framework on Crowdfunding and its potential application to Initial Coin Offerings (ICOs).
