CMVM announces mandatory registration of entities that manage equity or loan crowdfunding platforms
8 January 2018
CMVM announces the mandatory registration of entities
that manage equity or loan crowdfunding platforms. The dossier defining the terms of the registration
application at the CMVM, is available on same’s website.
The entry into force of norms of the legal framework
of the equity or loan crowdfunding platforms (RJFCCE) and the CMVM Regulation
No. 1/2016, relied on the entry into force of the relevant sanctionary framework.
A transitory framework has not been envisaged, thus the entry into force of the
sanctionary framework will imply the entry into force of the RJFCCE and of the
CMVM Regulation and at said moment, the entities that manage equity or loan
crowdfunding platforms ought to be registered with the CMVM in order to carry
out or continue to carry out the intermediation activity pertaining to equity
or loan crowdfunding platforms.
The Draft Law No. 97/XIII/3.ª (GOV), defining the sanctionary
framework applicable to crowdfunding activity was approved at the plenary
sitting of the Portuguese Parliament on 21 December 2017 and awaits enactment
by the President of the Republic and its publication in the Official Gazette
(Diário da República).
The CMVM has 30 business days to decide as to granting
registration, as from the date of reception of all the data provided for in
Article 4/1 of the CMVM Regulation No. 1/2016 or as from receiving the
additional information that may be required of the applicant.
Law No. 102/2015 OF 24 August – establishes the legal framework
of equity and loan crowdfunding (RJFCCE), which requires prior registration at
the CMVM of the management entities that carry out the intermediation activity
of equity or loan crowdfunding
1/2016 – explains a set of issues concerning the RJFCCE – access to
the mentioned activity and the relevant registration procedure of the managing
entities of electronic crowdfunding platforms