The past week the Spanish press announced that the government was to discuss a draft proposal of regulation for equity crowdfunding and peer-to-peer lending. Below are the main proposed points:
- Startups and SMEs will be able to raise through securities crowdfunding portals a maximum of € 1,000,000 from investors.
- The platforms will need a minimum equity capital of € 50,000 or an annual insurance coverage of €150,000.
- The proposed rules indicate that equity crowdfunding platforms shall register with the local financial authority, Comisiòn Nacional del Mercado de Valores (CNMV), while P2P lending portals will need to register with the National Bank.
- The regulation proposal also outlines an investment limit for the users of securities crowdfunding platforms: a cap of € 3,000 per project and of € 6,000 per year.
- All the platforms will have to comply with transparency requirements set forth by the regulation and violations will be punished with a fine ranging from € 25,000 up to € 200,000.
Two weeks ago, France approved the regulation for securities crowdfunding, obtaining great consensus at European level. Will Spain be next?
Navas, J.A. (2014). El Gobierno limita el 'crowdfunding': un millón máximo con aportaciones de 3.000€. Teknautas.
Trullàs, M. (2011). Online Matchmaking for Entrepreneurs and Investors. El Paìs.
Image Credit: Dennis Jarvis: https://bit.ly/p/bs39tF
Born and raised in Milan, Italy, Irene is an International Business graduate, with a strong interest for innovative ideas that can simplify our lives.
During her studies, she co-founded an online community for sportspeople and worked in marketing positions at Ogilvy & Mather Advertising and at the European Business Angel Network, in Brussels. She is a passionate blogger about crowdfunding and the startup ecosystem.