a framework for european crowdfunding: towards an enabling ecosystem for new ways of funding...
DESCRIPTION
Panel sugli aspetti legali del crowdfunding - Intervento di Oliver Gajda. Un quadro per il crowdfunding europeo: come la European Crowdfunding Network sta lavorando per andare verso un ecosistema che permetta nuovi metodi per finanziare innovazione e startup. La European Crowdfunding Network (ECN) è una rete professionale che promuove un ecosistema adeguato per il crowdfunding, e allo stesso tempo offre una voce unica per la discussione di policy e per la costruzione di un'opinione pubblica. Il suo obiettivo è creare un quadro europeo più favorevole al finanziamento di start up e piccoli progetti. Per ottenere ciò, la ECN mette insieme risorse e supporto professionale per i suoi membri e lavora per influenzare il discorso politico all'interno dell'Unione Europea.TRANSCRIPT
A Framework for European
Crowdfunding
Towards an enabling ecosystem
for new ways of funding innovation
and SMEs in Europe
Oliver Gajda, Co-Chair
European Crowdfunding Network
Oliver Gajda – European Crowdfunding Network
European Regulation
Oliver Gajda – European Crowdfunding Network
Example: Equity Crowdfunding
Oliver Gajda – European Crowdfunding Network
Oliver Gajda – European Crowdfunding Network
Harmonisation of marketing for
equities below €100k and above
€5million
Inbetween:
27 different National Interpretations
Example: Prospectus Directive (2003/71/EC, amended by 2010/73/EC)
Other Regulatory Burdens
Oliver Gajda – European Crowdfunding Network
• Corporate law provisions
• Accepting reclaimable funds (Directives
2006/48/EC & 2009/110/EC)
• Collective Investment in Transferable Securities
(UCITS)
• Alternative Investment Fund Managers (AIFM)
• Markets in Financial Instruments Directive
(MiFID & MiFID II)
Other Regulatory Burdens
Oliver Gajda – European Crowdfunding Network
• Corporate law provisions
• Accepting reclaimable funds (Directives
2006/48/EC & 2009/110/EC)
• Collective Investment in Transferable Securities
(UCITS)
• Alternative Investment Fund Managers (AIFM)
• Markets in Financial Instruments Directive
(MiFID & MiFID II)
Oliver Gajda – European Crowdfunding Network
A European Framework Regulation Education Research
Public Bodies • Review Legislation
• Expert Groups
• Political Cause
• Sustainability
• Crowdfunding as
Funding Tool
• Create Incentives
• Fund Impact
Research
• Support European
Industry Body
Industry • Code of Conduct
• Reporting Guidelines
• Customer Protection
& Due Diligence
• Train Customers
• Promote Success
• Showcaser Benefits
and Risks
• Benchmarking,
Transparency &
Data Provision
• Collaborate in
Research
Outcome Professional and
globally competitive
industry with
established set of rules
in the best interest of
the European Economy
Public awareness and
understanding of
citizens’ ability to
innovate and help
economic
development
Public and
transparent data
repository and
understanding of
social and economic
impact
A Framework for European
Crowdfunding
THANK YOU
Oliver Gajda, Co-Chair
European Crowdfunding Network
Oliver Gajda – European Crowdfunding Network