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The New Financial Crowdfunding Regulation and Its Implications for Investment Services under MiFID II : Charles University in Prague Faculty of Law Research Paper No. 2020/III/1

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11220%2F20%3A10421365" target="_blank" >RIV/00216208:11220/20:10421365 - isvavai.cz</a>

  • Result on the web

    <a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=t~ChP~9ouX" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=t~ChP~9ouX</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    The New Financial Crowdfunding Regulation and Its Implications for Investment Services under MiFID II : Charles University in Prague Faculty of Law Research Paper No. 2020/III/1

  • Original language description

    The new European Crowdfunding Service Providers Regulation aims on harmonizing the financial crowdfunding regulatory framework in the EU. In many respects inspired by MiFID II, it draws distinction between crowdfunding services and investment services, but at the same time raises new questions. It seems the Regulation might have significant impact on how the content of investment-based crowdfunding as well as individual investment services is to be interpreted. The paper aims firstly to analyse the scope of the new Regulation, with special attention to the exemptions set by the Regulation itself as well as those originating from the EU financial services regulatory architecture. Secondly, it evaluates the relationship between investment-based crowdfunding and investment services under MiFID II, namely the reception and transmission of orders and placing on no commitment basis, in order to distinguish the respective types of activities. Attention is given particularly to the simultaneous provision of reception and transmission of orders and placing on no commitment basis as a conceptual characteristic of financial crowdfunding. Finally, the consequences the Regulation might have for the interpretation of scope and content of certain present investment services under MiFID II are analysed. Namely, placing on no commitment basis, investment advice and portfolio management are put under scrutiny.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>ost</sub> - Miscellaneous article in a specialist periodical

  • CEP classification

  • OECD FORD branch

    50501 - Law

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2020

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Prague Law Working Paper Series [online]

  • ISSN

    2336-5811

  • e-ISSN

  • Volume of the periodical

    2020

  • Issue of the periodical within the volume

    3

  • Country of publishing house

    CZ - CZECH REPUBLIC

  • Number of pages

    18

  • Pages from-to

    3-20

  • UT code for WoS article

  • EID of the result in the Scopus database