by: Grow VC Group
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On February 24, 2016, the Italian securities market regulator (Commissione Nazionale per le Società e la Borsa, Consob), updated the regulations for equity based crowdfunding. It was published in the Gazzetta Ufficiale on March 4, 2016, with the new rules effective since March 5, 2016.

Italy was the first country to regulate digital investing through online funding portals, but despite that the equity crowdfunding market has been slow to take off (with just over €3 millions in total raised). It’s believed this is mainly because of the intrinsic limitations with the regulations, considered too restrictive and burdensome, and the environment, that was much less innovation-friendly than it is today.

The approach has initially been cautious, but the Consob is now showing great interest for the market and made significant improvements to the framework for crowdfunding regulation with these changes. This is the second time the rules are updated since they were initially enacted in July 2013, and then expanded to “Innovative SMEs” in January 2015.

The aim of these updated rules is to simplify the regulatory framework, trying to reduce the costs of collecting money through online funding portals, expand the range of subjects able to invest money into innovative business ventures and keep all the investment process online through the equity crowdfunding platforms. Consob says that these reforms aim to lay the foundations for the development of equity crowdfunding as a funding channel for innovation in Italy, as an alternative to the traditional finance instruments.

Read the whole article and more details on Crowd Valley News.

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Photo: Milan Business District, source: Wikipedia.


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Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

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