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
—