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.

1. 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

2. European Regulation
Oliver Gajda – European Crowdfunding Network

3. Example: Equity Crowdfunding
Oliver Gajda – European Crowdfunding Network

4. Example: Prospectus Directive
(2003/71/EC, amended by 2010/73/EC)
Harmonisation of marketing for
equities below €100k and above
€5million
Inbetween:
27 different National Interpretations
Oliver Gajda – European Crowdfunding Network

5. Other Regulatory Burdens
• 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

6. Other Regulatory Burdens
• 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

7. A European Framework
Regulation Education Research
Public Bodies • Review Legislation • Sustainability • Fund Impact
• Expert Groups • Crowdfunding as Research
• Political Cause Funding Tool • Support European
• Create Incentives Industry Body
Industry • Code of Conduct • Train Customers • Benchmarking,
• Reporting Guidelines • Promote Success Transparency &
• Customer Protection • Showcaser Benefits Data Provision
& Due Diligence and Risks • Collaborate in
Research
Outcome Professional and Public awareness and Public and
globally competitive understanding of transparent data
industry with citizens’ ability to repository and
established set of rules innovate and help understanding of
in the best interest of economic social and economic
the European Economy development impact
Oliver Gajda – European Crowdfunding Network

8. A Framework for European
Crowdfunding
THANK YOU
Oliver Gajda, Co-Chair
European Crowdfunding Network
Oliver Gajda – European Crowdfunding Network