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19/03/2021
Sneakypeer Newsletter Week 11
Welcome back to the Sneakypeer newsletter! Below you will find industry news from last week.
ESMA releases a technical standard draft on crowdfunding
The European Securities and Markets Authority (ESMA), an independent authority that aims to maintain the EU's financial system's stability, has recently introduced a consultation on draft technical standards on crowdfunding under the European crowdfunding service providers regulation (ECSPR).
The new crowdfunding regulation will introduce an individual set of requirements that will apply to all crowdfunding service providers in the EU, as well as new rules that protect investors. As the ECSPR has requested, ESMA has created 12 technical standards on various issues to be addressed in the consultation paper. ESMA is open to receiving responses to this consultation from stakeholders until 28 May 2021, as they will be considered when developing the draft technical standards for the European Commission.
The Financial and Capital Market Commission (FCMC) is also informed of the recent ESMA draft, as it welcomes its market players to submit their responses and suggestions by the end of May.
Kuflink launches new app; introduces new website features
Kuflink, a peer-to-peer investment platform based in the UK, released a beta version of its new app last week, available both on Apple and Android. The platform aims to expand the number of functionalities in the future, including making bank transfers in real-time instead of manually uploading a bank statement.
The platform has also made several improvements to its website by adding a “loan status” column in the portfolio section and is currently in the process of creating a display of updated images and information on its development loans.
