Crowdfunding is a type of intermediation where the service provider operates a platform (e.g. website) open to the public. The purpose of that platform is to match enterprises seeking financing with prospective investors. The enterprises typically receive small amounts of money from many investors (usually natural persons), via lending (lending-based crowdfunding) or investment into shares (investment-based crowdfunding). Some of the best-known crowdfunding platforms are Kickstarter or Indiegogo. By introducing a single European regulatory framework, the uncertain Hungarian legal environment might change, potentially giving a boost to the crowdfunding market.

A law implementing, among others, Directive (EU) 2019/878 amending Directive (EU) 2013/36 (Capital Requirements Directive - CRD V) has been passed by the Austrian Parliament and Federal Council, and has been published in the Federal Gazette. CRD V (as part of the package together with Regulation (EU) 2019/876 amending Regulation (EU) 575/2013 – CRR II) aims to close regulatory gaps in the existing financial regulatory framework and, while adding prudential measures as to capital requirements, requires certain entities to comply with new licensing obligations.

The Banking & Finance practice of Integrites in Ukraine has had its hands full lately, according to Partner Igor Krasovskiy, mainly thanks to the economic impact of Covid-19, Ukraine’s energy strategy, and the country’s commitments to international financial institutions.

The fee for 2021 is determined by the decision of competent authority on basis of applications of payers that are obliged to submit them no later than 31 July 2021.

The first rumors of a new infectious disease outbreak in late December 2019 initially only drew modest attention. Soon it became clear that the world had underestimated the spreading pandemic, and, despite Austria’s distance from the region of origin in Asia, by March 2020, the spread of COVID-19 in Europe had become a focus of concern. As hospitals struggled to deal with increasing numbers of coronavirus cases, governments throughout Europe – including Austria – imposed lockdowns that brought society as we know it to an abrupt halt. Overnight, European cities became ghost towns, with shops and services shuttered. Revenues vanished and, through no fault of their own, businesses had to face a difficult financial reality.

Since the emergence of the COVID-19 pandemic, the Government of the Republic of Serbia has, on several occasions, introduced measures aimed helping businesses maintain liquidity and working capital. These measures have included, among other things, direct subsidies worth a total of EUR 200 million in the form of loans available to entrepreneurs, cooperatives, micro-, small-, and medium-size businesses, state guarantee schemes to encourage banks to extend loans to businesses, and a moratorium on the repayment of loans which lasted until September 30, 2020.