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ARTICLE · 20 JULY 2022

EU Crowdfunding Regulation Updates

William Fry LLP
William Fry LLP
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William Fry LLP

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Recent updates to the European crowdfunding service providers for business (Crowdfunding Regulation) include (i) measures extending the transition period by 12 months for firms providing crowdfunding services...

European UnionFinance and Banking

Recent updates to the European crowdfunding service providers for business (Crowdfunding Regulation) include (i) measures extending the transition period by 12 months for firms providing crowdfunding services under national law and (ii) the publication of technical standards.

Transition period extension

On 19 May 2022, following targeted consultations, ESMA provided technical advice to the European Commission recommending an extension of the transition period under the Crowdfunding Regulation.

On 12 July 2022, the European Commission adopted a Delegated Regulation under the Crowdfunding Regulation, proposing to extend the transition period by 12 months for firms providing crowdfunding services under national law. This would allow such firms providing crowdfunding services on 10 November 2021 to continue to provide those services on a transitional basis until 10 November 2023.

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