Our FinTech and Regulatory partner Anne Hakvoort was delighted to contribute to the book ‘The EU Crowdfunding Regulation’ edited by P. Ortolani and M. Louisse and published by Oxford University Press on 9 December 2021. In her contribution Anne describes the possibilities of trading investments in crowdfunding projects. She discusses the possibility included in the Crowdfunding Regulation for crowdfunding service providers to facilitate a bulletin board on which trading intentions can be posted. Hakvoort contrasts this bulletin board with heavily regulated trading platforms under MiFID II, the multilateral trading facility and the organised trading facility. A warning is in order here: crowdfunding service providers must ensure that buy and sell orders do not come together through the bulletin board (or the platform) and no transaction should be concluded on the bulletin board. This in order to prevent the CSP from being deemed to operate a regulated trading platform after all. You can buy the book here.
