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Part V Protecting the Crowd Under the Crowdfunding Regulation and Beyond, 13 Secondary Trading of Crowdfunding Investments

Anne Hakvoort

From: The EU Crowdfunding Regulation

Edited By: Pietro Ortolani, Marije Louisse

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 15 April 2024

Subject(s):
Capital markets — Financial regulation — Funds

This chapter explores the introduction by the Crowdfunding Regulation of the possibility for investors to advertise on a bulletin board their interest in buying or selling loans, transferable securities, or other instruments. It describes the obligations of the crowdfunding service providers when allowing the advertisement of interests on such a bulletin board. Moreover, the chapter assesses the interlinkage with the obligations under MiFID II in respect of internal matching systems which execute client orders on a multilateral basis. It also looks into the qualification of a crowdfunding investment as transferable security or loan and the consequences thereof for secondary trading. The chapter focuses on the secondary trading option that can be facilitated by a crowdfunding service provider under the Crowdfunding Regulation.

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