Crowdfunding: Central Bank Launches New Regulatory Framework

The Central Bank  announced the details of its new regulatory framework for crowdfunding service providers (CSPs) on 13 January 2022, following the publication earlier that week of details of its  authorisation process for CSPs.

The directly-effective EU Crowdfunding Regulation has applied from 10 November 2021 to providers of two key types of crowdfunding: investment-based crowdfunding, and peer-to-peer lending.

There is a transitional period:

In-scope CSPs that are already engaged in activities that require authorisation under the new framework can continue to engage in those activities on a transitional basis until 10 November 2022, following which they will only be able to engage in those activities if they have been authorised to do so by their national competent authority (in the case of Ireland, the Central Bank).