Council of the EU publishes draft reasons for its first reading positions on crowdfunding proposals

Article summary

The Council of the EU has published draft statements setting out the reasons for its positions at first reading on the adoption of a Directive amending Directive 2014/65/EU on markets in financial instruments (MiFID II) in relation to crowdfunding (the Amending Directive) and a Regulation on European crowdfunding service providers (ESCP) for business (the ECSP Regulation). The first reading positions, published on 9 July 2020, reflect the compromise reached in negotiations between the Council of the EU and the European Parliament.