The EU Crowdfunding Regulation

Part of the Oxford EU Financial Regulation Series, The EU Crowdfunding Regulation provides an in-depth and timely analysis of the EU Crowdfunding Regulation, which is intended to make it easier for crowdfunding platforms to operate throughout the EU, which came into force on 10 November 2021.

The book answers legal questions raised by the Regulation, and assesses its impact on legal practice, considering the position of the various types of crowdfunding. The analysis is divided into six parts. The first two parts describe how the Regulation came into being and the role of the Regulation in European capital markets, before defining and assessing the scope of the Regulation. Parts three to five explain how the Regulation applies to the three main players in crowdfunding: the crowdfunding service providers; the project owners; and the investors who form the 'crowd', examining the relevant applicable obligations and safeguards. The final part looks at managing, preventing, and resolving crowdfunding-related disputes.

Providing a balance between academic scrutiny and practical context (including consideration of how the Regulation interacts with UK law after Brexit) and drawing upon various aspects of financial law, consumer law, and dispute prevention/resolution, this book is invaluable for legal practitioners and academics looking for a single resource to elucidate this rapidly expanding mode of financing.

Pietro Ortolani, Professor of Digital Conflict Resolution, Radboud University,Marije Louisse, Senior Legal Counsel, De Nederlandsche Bank NV

Pietro Ortolani is a Professor of Digital Conflict Resolution at Radboud University, Nijmegen, the Netherlands. He holds a law degree from the University of Pisa and a Ph.D. in arbitration from LUISS Guido Carli University, Rome. Before joining Radboud University, he was a Senior Research Fellow at
the Max Planck Institute Luxembourg for Procedural Law.

Marije Louisse is Senior Legal Counsel at De Nederlandsche Bank NV, fellow at the Financial Law Centre of the Radboud University, Nijmegen, the Netherlands, and member of the Associate Researchers Group of the European Banking Institute. Frankfurt, Germany. She has worked as a lawyer in the banking
& finance team of Loyens & Loeff, Amsterdam, the Netherlands from 2010 until 2019. Marije specialises in the laws and regulations regarding supervision of financial undertakings and financial markets with a focus on prudential, resolution and anti-money laundering legislation. She publishes
frequently on financial regulatory topics, including crowdfunding.

PART 1: SKETCHING A LEGAL TAXONOMY OF CROWDFUNDING
1. Keep Calm and Continue Crowdfunding
2. The Crowdfunding Regulation in the Context of the Capital Markets Union
PART 2: DEFINING AND ASSESSING THE SCOPE OF THE CROWDFUNDING REGULATION
3. The Scope of the Crowdfunding Regulation and the Impact of Brexit
4. Crowdfunding and UK Law
5. EU Consumer Law and the Boundaries of the Crowdfunding Regulation
6. Is the Crowdfunding Regulation Future-Proof? Forms of Blockchain-based Crowdfunding Falling Outside of the Scope of the Regulation
PART 3: REGULATING THE CROWDFUNDING SERVICE PROVIDERS UNDER THE CROWDFUNDING REGULATION
7. Authorization and Supervision of Crowdfunding Service Providers
8. Organizational and Operational Requirements for Crowdfunding Service Providers
PART 4: THE POSITION OF PROJECT OWNERS UNDER THE CROWDFUNDING REGULATION AND BEYOND
9. The Regulatory Position and Obligations of Project Owners
10. Crowdfunding and Intellectual Property Protection
11. Non-Profit Project Owners: Crowdfunding and Public Interest Litigation in the Digital Age
PART 5: PROTECTING THE CROWD UNDER THE CROWDFUNDING REGULATION AND BEYOND
12. Investor Protection on Crowdfunding Platforms
13. Secondary Trading of Crowdfunding Investments
14. Marketing Communications and the Digital Single Market
15. Reward-based Crowdfunding, the Digital Single Market, and EU Consumer Law
PART 6: MANAGING, PREVENTING, AND RESOLVING CROWDFUNDING-RELATED DISPUTES
16. Civil and Commercial Jurisdiction in Crowdfunding-Related Litigation
17. Collective Redress in Crowdfunding