26/06/2019 (Agence Europe) – As announced, on Wednesday 26 June, the Member States' ambassadors to the EU (Coreper) adopted their negotiating position with the European Parliament on the proposal for a regulation to facilitate crowdfunding (see EUROPE 12282/16). The text entrusts the authorisation and supervision of crowdfunding service providers to the competent national authorities and not to the European Securities and Markets Authority (ESMA), which is only entrusted with the task of establishing a register. In addition, the EU Council proposes to raise the threshold for one-year crowdfunding offers to €8 million. According to the text, Member States that have set a threshold for prospectus requirements below €8 million could prohibit the raising of capital from their residents to finance offers of amounts above this national threshold. Interinstitutional negotiations can start once the new Parliament has taken office. (MF)