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ARTICLE · 09 JULY 2021

Time For Crowdfunding Service Providers To Take Action

Matheson
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For some CSPs, authorisation pursuant to the Crowdfunding Regulation, will be their first move into the regulatory environment.

European UnionFinance and Banking
Ciaran Moloney
Ciaran Moloney
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Ciaran Moloney, associate: "Regulation  (EU) 2020 / 1503 ("Crowdfunding  Regulation") which takes effect from 10 November 2021, is a welcome development to facilitate the integration of crowdfunding services provided across  member states of the EU and one which is expected to contribute to further growth in the crowdfunding market in the EU. Crowdfunding Service Providers ("CSPs") have previously been reluctant to provide their services on a cross-border basis, owing to the significant divergence in national laws governing the activities of these entities, and the legal and  administrative costs that reflect this reality.  Additionally, as investors/project owners, under the Crowdfunding Regulation will not be required to be licensed as credit institutions, this is expected to make crowdfunding  more cost-efficient and more attractive to  investors/project owners.

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