Regulation (EU) 2020/1503 of the European Parliament and of the Council on European crowdfunding service providers for business was adopted at the end of last year: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32020R1503.
From 10 November, it will define uniform requirements for the registration, operation and supervision of the crowdfunding service providers in the European Union. Currently the European Securities and Markets Authority and the European Banking Authority are developing a series of technical standards specifying more detailed requirements for the provision of services.
At the national level, the Ministry of Finance, in cooperation with the FCMC, works on a national law that will designate the competent authority for the purposes of this regulation, its mandate and tasks, as well as other national requirements. In Latvia, the FCMC will monitor this area.
During the webinar, the FCMC experts will inform about the scope of the regulation, which will take effect from 10 November, the main requirements for the operation of crowdfunding platforms, technical standards and steps to be taken for the obtaining of licence in Latvia.
Among the participants will be Marine Krasovska, FCMC’s Financial Innovation Department Director, Mārtiņš Grakauskis, Chief Supervisory Expert and Ingus Valtiņš, Senior Legal Consultant of the FCMC’s Licensing Division. A special guest at the webinar will be Karsten Wenzlaff, Secretary-General of the German Crowdfunding Association and Alternative Finance Expert, who together with the FCMC experts will answer the questions raised by the participants at the closing session and discuss developments in crowdfunding area in other countries.
The webinar will be held in English, prior registration is required. Please register and submit your questions here: https://forms.gle/tjFUWGqbUoiCkNRF9. Please register until 24 August.
For further information:
Head of the FCMC’s Communisations and Financial Literacy Division
Phone: +371 67774808;