As per 10 November 2021, Regulation (EU) 2020/1503 on European crowdfunding service providers for business (the "ECSPR")) and Directive (EU) 2020/1504 amending  (the "Crowdfunding Directive") apply. This new framework provides for an harmonised Pan-European regulatory framework for crowdfunding service providers (“CSPs”) established in one of the member states of the European Economic Area.

In this series of blogs, available on the website (https://www.fglawyersamsterdam.com/en/the-new-crowdfunding-framework/), FG Lawyers aims to give existing CSPs a gap analysis which they will encounter when applying for authorisation under the ECSPR. The ECSPR provides for a general framework applicable to CSPs irrespective of the type of crowdfunding services that they offer. Therefore, due to the current deviating regimes applicable to crowdlending platforms in comparison to crowdinvesting platforms, the actual implications of the ECSPR on the business processes and internal organisation of existing CSPs may differ. 

In the first issue in this series of blogs, FG Lawyers gives an introduction on crowdlending and crowdinvesting and the most important changes that the ECSPR will bring for existing CSPs operating a crowdlending platform.

In the second issue, FG Lawyers gives an overview of the most important changes that the ECSPR will bring for existing CSPs operating a crowdinvesting platform.

FG Lawyers then dives into the do's and don'ts for CSPs who offer a bulletin board on their platform. These CSPs need to ensure that they do not cross the line and becoming subjected to the heavy MiFID II framework when being considered to operate a regulated trading venue, such as a multilateral trading facility or an organised trading facility.