About this initiative


Broadening access to finance for innovative companies, start-ups and other unlisted firms is at the heart of the CMU Action Plan. However, investment finance remains difficult for these companies, particularly when they move from start-up into the expansion phase. Alternative sources of finance such as crowd and peer-to-peer finance ('crowdfunding') can be an important source of non-bank financing in support of innovative companies and start-ups provided that appropriate safeguards are in place.

Banking and financial services
Type of act
Provisional data


Feedback: closed

Inception impact assessment
More about roadmaps.

Feedback period
30 October 2017 - 27 November 2017 (midnight Brussels time)
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Feedback (41)

  • ZAAR Crowdfunding (Malta)
    27 November 2017 Company/business organisation
    ZAAR Crowdfunding (Malta)

    ZAAR welcomes the European Commission’s objectives in enabling platforms to scale cross-border, as well as in providing platforms with a proportionate and effective risk management framework. Our preference would be a comprehensive EU approach (option 3), where, while considering the special characteristics investment-based crowdfunding, platforms will be treated like other regulated institutions in an equal manner in all member countries of...

  • Financement Participatif France (France)
    27 November 2017 Business association
    Financement Participatif France (France)

    Financement Participatif France (FPF) is the representative professional association of the crowdfunding sector. Created in August 2012, it now gathers 150 members, including 70 platforms of all crowdfunding categories (reward, peer-to-peer, crowdlending, crowdequity). FPF wishes that the European Union set up the conditions for a long-term and structured development of the sector. That is why the association joins Paris EUROPLACE's...

  • Association Française de l'Investissement Participatif (France)
    27 November 2017 Business association
    Association Française de l'Investissement Participatif (France)

    Paris EUROPLACE would like to thank the European Commission for the opportunity to provide their feedback on crowd and peer to peer finance. The present contribution is shared by the Association Française de l’Investissement Participatif (AFIP) and Financement Participatif France (FPF). France has been a pioneer in Europe in developing a regulatory framework dedicated to crowdfunding platforms with the introduction of two different statutes as...

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Commission adoption

Feedback: closed

Proposal for a regulation
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Adopted on
08 March 2018
Feedback period
08 March 2018 - 11 May 2018 (midnight Brussels time)
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Feedback (35)

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