About Us  |   Contact Us  |   Register  | Login  |   

Follow HedgeWorld on Twitter HedgeWorld on LinkedIn






HEDGEWORLD NEWS
Search the News
Advanced News Search
HedgeWorld News by Region
United States / Americas
Europe
Asia / Australia
International
HedgeWorld News Sections
Managed Futures & Derivatives
Daily News
Regulatory/Legal
Strategies/Analysis
Technology
Opinion
People
Indexes
Other News Features
Most Popular
LexisNexis Headlines
Reuters Headlines
The HedgeWorld Blog
Alternative Advantage Daily Newsletter
RSS Service
Sign Up For Email News Alerts
Reprints



European Commission considers regulation of crowdfunding
10/03/2013 Email this story  |  Printable Version

BRUSSELS, Oct 3 (Reuters) - The European Commission said on Thursday it is examining whether to regulate crowdfunding, an alternative source of financing via the Internet, and has started to gather views from industry and citizens.

Although any legislation would be unlikely to come before 2015, after the changeover of commissioners in charge of the EU's executive, the launch of the consultation signals a continued desire to extend EU rules in finance.

Michel Barnier, the commissioner in charge of regulation, said that he was considering whether to propose common pan-EU rules for crowdfunding, which pools money often via the Internet for projects including company start-ups.

"Crowdfunding is becoming increasingly important," said Barnier in a statement. "Do we need a single European framework to support both those who develop crowdfunding platforms and to reduce the risks to those who make use of such platforms to finance projects?" he asked.

Any move would likely follow the United States. FINRA, Wall Street's industry-funded watchdog, said in January it was working with the Securities and Exchange Commission (SEC) to draft rules that would govern crowdfunding.

However, Barnier's announcement comes a day after the Commission pledged to pare back new legislation, in an effort to answer intensifying criticism of what many in member states see as overregulation by Brussels. (Reporting by John O'Donnell; Editing by Christina Fincher)


Email This Story to a Friend   |   Display Printable Version of This Story

Story Copyright © 1999-2014 Reuters HedgeWorld All rights reserved.

HedgeWorld News is sponsored by:






Lipper    Privacy   User Policy  Legal Disclosure Copyright/DMCA  Site Map    FAQ    Glossary  Thomson Reuters for Hedge Funds
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of HedgeWorld content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. HedgeWorld is a registered trademark of Thomson Reuters.