The EU Council and Parliament have reached a provisional political agreements on the Commission’s proposal for legislation to boost crowdfunding in the EU. The framework is the 12th of the 13 pieces of the CMU legislative programme the EU has been working through. The new rules will create the possibility for an EU crowdfunding licence that will allow platforms to seek funding from all over the EU for loan and investment-based crowdfunding.
Part of the political agreement increases the application of the rules, so they cover offers of up to €5m calculated over a period of 12 months per project owner. Investors would get a key investment information sheet, and service providers would need to provide clear information about the risks and charges of each project. Non-sophisticated investors would also be offered more in-depth advice and guidance.