The French Minister of Economy, Emmanuel Macron, spoke at the annual meeting of the Association of French crowdfunding platforms, Financement Participatif France, where he proposed several changes of the French regulation of crowdfunding.
One of the proposals was that the government will propose to raise the ceiling of equity fundraising per issuer from currently €1 million to € 2.5 million and 50% of the issuer’s value. The changes would also widen the scope of issuable instruments to preferred shares, convertibles and shareholder loans, whereas equity crowdfunding in France is for now limited to ordinary shares and plain vanilla bonds.
Crowdfunding contributions per lender and campaign will be raised as well, while Crowdfunding platforms registered as a CIP (Conseil en Investissement Participative = Equity Crowdfunding Advisors) are now authorised to issue mini-bonds, a move contrary to the French Crowdfunding Regulation of 2014.
More information on the subject can be found here at the Association’s website.