Brussels, 26th of June 2019. Today the European Council has finally concluded its discussions on the European Crowdfunding Service Provider legislation proposal as published by the European Commission in early 2018. In doing so it responds to the harmonisation proposal of the European Commission and enables the final discussions with the European Parliament, which passed its own position in March 2019, to set out a regulatory framework for the operation of crowdfunding platforms across the European Union.
ECN has been working closely with the European Commission, the European Parliament and the European Council to enable access to information, market actors and knowledge since 2013. We are glad to see this process move forward.
We hope the final framework to be agreed will make it easier for our members and other crowdfunding platforms to provide their services across the EU. In this respect, we are glad to see that the Council has opted for a largely harmonised framework that also includes investor protection rules. We expect relevant improvements in the negotiations with the European Parliament.
To read the detailed proposal of the European Council as submitted on the 24th of June 2019 please use the following links:
ECN will review the Council position and provide further input into the discussion as needed.