As part of the CMU Action Plan, crowdfunding is now on the radar of both the European legislator and the local legislators and regulators of the EEA Member States. It is generally believed that crowdfunding is one of the alternative manners to divide capital within the European Union to start-ups and SMEs. The recent report on the European crowdfunding sector of the European Commission has shown however that crowdfunding is still mainly a local manner of alternative financing.
Due to the lack of a clear regulatory framework and guidance in respect of crowdfunding on an European level, crowdfunding business models are not treated on a harmonized level in the EEA Member States. This paper describes the most important regulatory obstacles to cross border crowdfuning in the EEA and includes our suggestion for an European wide harmonized regulatory crowdfunding regime. Please find the paper here: January 2017 – Most important regulatory obstacles to cross border crowdfunding.
