The European Commission has published a staff working document on crowdfunding in the capital markets union (CMU). The purpose of the working document is to assess national regimes, identify best practice, and present the results of the Commission’s monitoring of the evolution of the crowdfunding sector.

The staff working document is structured as followed:

  • section 2 takes stock of the work that has been carried out by the Commission Services since the adoption of the 2014 Communication on crowdfunding;
  • section 3 reviews the current status of crowfunding in the EU, with a particular focus on market developments and innovative business models;
  • section 4 gives an overview of domestic regulatory and supervisory arrangements in member states;
  • section 5 appraises the extent of cross-border crowdfunding activities; and
  • section 6 sets out some conclusions.

View Report on crowdfunding in the EU Capital Markets Union, 3 May 2016