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Part II Defining and Assessing the Scope of the Crowdfunding Regulation, 5 EU Consumer Law and the Boundaries of the Crowdfunding Regulation

Martin Ebers, Benedikt M Quarch

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: 16 April 2024

Financial regulation — Alternative investment fund

This chapter evaluates the interactions and the ‘boundaries’ between the Crowdfunding Regulation and European Consumer Law. These questions are particularly relevant, not only because some forms of crowdfunding fall outside of the scope of the Regulation, but also because EU Consumer Law may meaningfully complement the provisions of the Crowdfunding Regulation, protecting the ‘crowd’, in cases where the Regulation is applicable. The analysis shows that the Crowdfunding Regulation has not led to the harmonization of consumer crowdlending. Rather, there are still considerable gaps in the protection of consumers. Whereas the Crowdfunding Regulation protects consumers to a large extent when they act as investors in crowdfunding, it provides insufficient protection for consumers as project owners who conclude contracts with private investors.

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