The 1st European Country To Regulate Crowdfunding

Law360, New York (August 26, 2013, 1:25 PM EDT) -- After an extensive public consultation ended on April 30, 2013, the Italian financial markets regulator — Commissione Nazionale per le Società e per la Borsa (“Consob”) — issued on June 26, 2013, a regulation on the raising of venture capital by innovative startups through online portals, which implements Sections 50-quinquies (“management of portals for raising capital for innovative startups”) and 100-ter (“offers through portals for raising capital”) of Legislative Decree of Feb. 24, 1998, no. 58 (the “Consolidated Act on Finance”), as introduced by Law Decree...
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