The European Commission has investigated in a so-called ‘inception impact assessment’ whether it is desirable to create an European legal framework for crowdfunding platforms in which lenders receive a financial compensation from the borrower on the investment they make via the crowdfunding platform. These can be crowdlending platforms and crowdinvesting platforms. The European Commission considers 4 policy options. FG Lawyers advocates for Level 2 and 3 clarification under the existing Community legislation that may apply to such crowdfunding platforms. FG Lawyers also makes a number of concrete suggestions in case the European Commission chooses to create a separate supervisory framework for crowdfunding. You can find our response here.