On 18 December 2019, the European Parliament's negotiating
team reached a deal with the Council for the European Union on the
implementation of EU-wide rules aimed at helping crowdfunding
services function smoothly while fostering cross-border business
funding.
The announcement (found here) follows the publication of the
Council's compromise proposal in June 2019 (2018/0048 (COD)) which revised the
European Commission's draft framework for common rules for
crowdfunding platforms across Europe (P8_TA(2019)0301) (the
"Crowdfunding Regulation").
The announcement comes as a targeted response to the fragmented
and often conflicting regulatory regimes currently in force for
crowdfunding service providers (CSPs) operating within EU Member
States. The Crowdfunding Regulation is set to form part of the
European Commission's wider FinTech Action Plan (COM(2018) 109/2), directed at
harnessing technological innovation in financial services.
