Lords seeks clarification on EU crowdfunding legislation

Lord Kinnoull, Chair of the European Union Committee, has written to John Glen MP in response to HM Treasury’s letter of 11 August which set out the Government’s views on the EU Crowdfunding Regulation.

The House of Lords is seeking clarification on the following questions:

• Which elements of the Regulation might make the UK’s Europe-leading crowdfunding sector more competitive?
• Where might the Government seek to diverge from the Regulation and what would be the impact of any such divergence?
• What is the Government’s assessment of the desirability or otherwise of coming under the Regulation as a third country and of the effect of such a move on the UK sector’s competitiveness?

Lord Kinnoull has asked for a response within 10 working days, ie by 23 October 2020.