Equity crowdfunding and start-ups funding. Carlos Martins Neto and Pedro Wehrs do Vale Fernandes (Coord.). São Paulo: Quartier Latin, 2022, 400 p.
Equity crowdfunding and start-ups funding. Updated in accordance to CVM Resolution 88/2022.
“In most developed markets, crowdfunding regulation is structured on similar bases: the discipline of the platforms responsible for intermediation, which are the relevant regulated agents; the definition of eligibility requirements for fundraising companies and for each fundraiser; and the formal control of the securities offered, in particular the bookkeeping rules to which they are subject. […] In fact, in the first two years after CVM Instruction 588/17 was issued, 26 platforms were registered. The number of offers grew significantly, which, together with the behavior of those involved in the offers, indicated to the regulator that there were conditions to take another relevant step in the evolution of the discipline of the institute. Currently, crowdfunding is regulated by CVM Resolution 88/22. […] “Equity crowdfunding and start-ups funding” is released at a good time, after the instrument has already been thoroughly tested and the regulation revised, which offers more elements for analysis on each topic. The critical and in-depth look of the authors of this book, more than simply covering all the relevant legal aspects of the crowdfunding institute, has raised questions and presented important points for reflection. […] Also noteworthy is the selection of the topics of the articles, made in such a way as to give this collection the character of a complete work on the legal aspects of investment crowdfunding. […] This collective work is therefore indispensable reading for anyone wishing to gain a broad and in-depth understanding of crowdfunding. Its organizers (also co-authors), in particular, deserve credit for completing what, since its launch, should be considered a reference work.” (extract from the Foreword, by Marcelo Barbosa).
