The purpose of the article is to compare US and Italian financial crowdfunding regulation (as to US, see the Sections 301 – 305 of the Jumpstart Our Business Startups Act – the “Jobs Act” - enacted on 5 April 2012; as to Italy, see Art. 30 D.L. 18 Oct. 2012, n. 179 and the resolution of the Italian Commission for Companies and Stock Exchange - Consob - implementing some previsions of D.Lgs. 24 Febr. 1998, n. 58 (“T.U.F.”, Italian Financial Act), The article shows how different theoretical characterization correspond – or may correspond – to different policy approaches. The findings of research emphasize the weak foundation of the present regulatory frameworks, especially in Italy, and advise a diverse policy and institutional approach to financial crowdfunding.
Madness of Crowds or Regulatory Preconception?: The Weak Foundation of Financial Crowdfunding Regulation in the USA and Italy
TONELLI, Enrico;
2014
Abstract
The purpose of the article is to compare US and Italian financial crowdfunding regulation (as to US, see the Sections 301 – 305 of the Jumpstart Our Business Startups Act – the “Jobs Act” - enacted on 5 April 2012; as to Italy, see Art. 30 D.L. 18 Oct. 2012, n. 179 and the resolution of the Italian Commission for Companies and Stock Exchange - Consob - implementing some previsions of D.Lgs. 24 Febr. 1998, n. 58 (“T.U.F.”, Italian Financial Act), The article shows how different theoretical characterization correspond – or may correspond – to different policy approaches. The findings of research emphasize the weak foundation of the present regulatory frameworks, especially in Italy, and advise a diverse policy and institutional approach to financial crowdfunding.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
