Legal

Increasing Competences for Crowdfunding

Crowdfunding ecosystem in Central Europe is growing and gaining more relevant role among alternative business models, willing to support new ideas/projects of start-ups and SMEs. Since the industry is still young, the environment conditions, terminology & research, legal framework and practices are constantly accompanied by a rapid development and change. Fast development and changes are presenting key challenge for involved stakeholders of Crowdfunding ecosystem:

  1. Crowdfunding platform operators
  2. Start-ups & SMEs
  3. Investors & citizens
  4. Policy makers

Ad 1. Crowdfunding platform operators

The purpose and aim from this following project studies is to increase institutional competences for Crowdfunding capacities of Crowdfunding platform operators in order to provide better services or start new Crowdfunding platforms.

  1. Minimum platform standards
  2. Code of conduct for platforms

For the stakeholder groups small and medium-sized enterprises, policy makers and citizens will follow in the coming months more helpful contributions around the legal framework of Crowdfunding.

In these two studies above for Crowdfunding platform operators you will find a concise overview about Crowdfunding types, benefits of Crowdfunding, the different stakeholders, platform regulations, how to start a platform, what people have to consider when investing into projects and wanting to start a Crowdfunding project with their newest ideas.

Go through the next bullet points and you will find an overall description for each of these papers. To go more in depth, klick on the paper and you will be able to download it.

Ad. 1. Minimum platform standards

This document is a step towards establishment of a minimum standards for Crowdfunding/Crowdinvesting platforms and will assure the transfer of know-how and serve as the recommendations for prospective platform operators as well.
With the platform standards and recommendations for existing and future Crowdfunding and Crowdinvesting platforms in Central Europe, it will be contributed to:

  • Improvement of quality of services
  • Higher professional management standards
  • Higher ethical standards
  • Higher visibility and acknowledgment of CE regional platforms

Ad. 2. Code of conduct for platforms

The main aim of this Code of Conducts is to stimulate existing and future Crowdfunding platforms to develop and establish the use of code of conduct. In this regard, this document is a kind of living document reflecting the vision that code of conduct should be promoted and it is available for a broad use.
Project partners of the Crowdfundport project organisation have created the Code of Conduct (hereinafter referred to as the CoC) for all types of Crowdfunding as a set of rules, outlining the responsibilities, ethics and proper practices for Crowdfunding platforms.

The compliance with this CoC does not exempt a platform operator from following the requirements provided by law and any other regulations and codes referred to their specific area of economic activity in the industry (among others those referring to trade, financing, data protection, crime prevention, consumer protection, advertising and so on). In case of any additional services are offered to consumers via the Crowdfunding platform, the platform operator shall comply with the obligations provided by relevant legal acts. National or other Guidelines of good practice are not meant to be overruled by this Code of Conduct.

To go more in depth, klick on the papers below and you will be able to download it.

Download Area:

CFP – Minimum Platform Standards CFP – Code of Conduct for Platforms

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