17/10/2019 (Agence Europe) – Interinstitutional negotiations between representatives of the European Parliament and the Council of the EU on the proposal for a regulation to facilitate crowdfunding are expected to start on Tuesday 22 October, according to our information. In its position adopted last June (see EUROPE 12282/16), the EU Council advocated a minimum harmonisation approach at the EU level, entrusting the authorisation and supervision of participatory finance services providers to the competent national authorities and not to the European Securities and Markets Authority (ESMA), as proposed by the European Commission (see EUROPE 11977/3). Parliament, for its part, has also chosen this option, but has nevertheless entrusted ESMA with a mediation role for any disagreements between different competent authorities in the event of granting or refusing authorisation (see EUROPE 12130/3). See the comparative table of positions: http://bit.ly/31oKiSE (MF)