Weitere ähnliche Inhalte Ähnlich wie Legal Frameworks for Equity Crowdfunding in Europe (20) Mehr von Crowdsourcing Week (20) Kürzlich hochgeladen (20) Legal Frameworks for Equity Crowdfunding in Europe1. ALESSANDRO M. LERRO
LEGAL FRAMEWORKS
FOR EQUITY CROWDFUNDING
IN EUROPE
WWW.LERRO.IT
COPENHAGEN 2014
8. American JOBS Act
TIT. 2: ACCREDITED INVESTORS:
IMPLEMENTED
TIT. 3: RETAIL INVESTORS:
WAITING FOR SEC REGULATION
©2013 A.M. Lerro
9. SINCE JUNE 2013, CONSOB AUTHORIZES
AND RULES EQUITY PLATFORMS
©2014 A.M. Lerro
12. INTEGRITY
MINIMUM
CAPITAL
DUAL
SYSTEM
MANAGEMENT
EQUITY
PLATFORM
LICENSED
BROKER-DEALERS
PROFESSIONALISM
©2014 A.M. Lerro
14. HOW TO:
A - PROTECT THE INVESTOR
B - REDUCE COSTS
C - OBTAIN EFFICIENCY
- Order execution through Broker-Dealers
- MIFID
- Money in escrow
- Threshold Pledge System (all or nothing)
- Kind of contract (digital, written,…)
16. U.S.A. REGULATIONS ARE VERY RESTRICTIVE.
WHAT HAPPENS WITH NON U.S. INVESTORS IN U.S.A.? ARE
AMERICAN INDIVIDUALS ALLOWED TO INVEST ABROAD ?
©2014 A.M. Lerro
17. E.U. BROKER DEALERS HAVING E.U. PASSPORT MAY
OPERATE THROUGHOUT THE E.U..
WHAT HAPPEN WITH NON E.U. INVESTORS ?
©2014 A.M. Lerro
18. ASIA IS JUST STARTING TO DEAL WITH
CROWD -INVESTMENT
©2014 A.M. Lerro
20. What can be told
What must be told
Minimum information
Spot on the risks
Regulation of advertising
Investors’ education
21. MAY WE USE SOCIAL MEDIA
FOR ADVERTISING
INVESTMENT OPPORTUNITIES ?
27. Is the PERSONAL INVESTMENT LIMIT
a right protection for the investor
?
What about checking the investor’s
PROCLIVITY TO RISKY INVESTMENTS
(i.e. MIFID)
?
31. ©2013 A.M. Lerro
EDUCATION
WITH DRAWAL
TAG ALONG
MIFID
NO INVESTMENT
LIMIT
INFORMATION
NO RECKLESS INVESTMENTS
32. CURATE THE CROWD
PROVIDE INFORMATION
GET FEEDBACK
BE LOYAL
RESPECT THE CROWD
©2014 A.M. Lerro