Crowdfunding Act enters into force in September
The new Crowdfunding Act will improve the opportunities for businesses to finance their growth. The President of the Republic ratified the Act on Thursday 25 August and it will enter into force at the start of September.
The Crowdfunding Act will particularly ease the regulation of investment-based crowdfunding and correspondingly clarify the ground rules for loan-based crowdfunding. The objective of the Act is to clarify the responsibilities of various authorities in the supervision of crowdfunding, to improve investor protection and to diversify the financial markets.
The Ministry of Finance is currently preparing a decree that elaborates on the duty of disclosure applicable to crowdfunding recipients. The aim is that the decree will enter into force this autumn.
Crowdfunding Act to provide new financing options for business growth (press release 7 April)
Aki Kallio, Ministerial Adviser, tel. +358 2955 30477, aki.kallio(at)vm.fi
Armi Taipale, Legislative Counsellor tel. +358 2955 30399, armi.taipale(at)vm.fi