Ireland—Regulation of crowdfunding in Ireland
Produced in partnership with Eimear O'Brien of Hogan Lovells
Practice notesIreland—Regulation of crowdfunding in Ireland
Produced in partnership with Eimear O'Brien of Hogan Lovells
Practice notesThis Practice Note discusses the regulation of crowdfunding in Ireland under Regulation (EU) 2020/1503 (the ECSP Regulation) and SI No 702/2021 European Union (Crowdfunding) Regulations 2021 (Ireland) (SI 702/2021 (IRL)). It should be read in conjunction with Practice Notes: EU Regulation of crowdfunding—the ECSP Regulation and the MiFID II Crowdfunding Directive and The UK regulation of crowdfunding platforms—essentials.
Equity crowdfunding and peer-to-peer business lending in Ireland
Prior to the ECSP Regulation, equity crowdfunding and peer-to-peer business lending (P2P lending) in Ireland was not regulated unless the crowdfunding platform also carried out some other related regulated services, such as payment services or Markets in Financial Instruments Directive (2004/39/EC) (MiFID) investment services.
As part of its 2017 Action Plan under the International Financial Services 2020 Strategy on the long term vision for the development of Ireland’s international financial services sector, the Irish government committed to carry out a public consultation on crowdfunding in the context of the European Commission’s Action Plan on Building a Capital Markets Union (originally launched in 2015). In April 2017, the Department of
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