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Part II Defining and Assessing the Scope of the Crowdfunding Regulation, 4 Crowdfunding and UK Law

Gerard McMeel

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: 03 March 2024

Financial regulation — Alternative investment fund

This chapter discusses the impact of Brexit on the development and application of the Crowdfunding Regulation, summarising the main features of the UK legal framework applicable to crowdfunding. It also assesses the enduring relevance of that framework, in the wake of the Withdrawal Agreement. Overall the regime for crowdfunding in the UK is intended to facilitate business of this type, while ensuring that the usual protections for investors and debtors in orthodox financial services apply equally to functionally equivalent crowdfunded activities. The UK regime owes debts to earlier EU legislation, principally MiFID II for investment-based activity, and the Consumer Credit Directive for debt-based activity. However, given the UK’s withdrawal from the EU, it represents a distinct regime unaffected by the Crowdfunding Regulation.

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