Professionals of the law firm TESET advised crowdfunding platform letsinvest.eu on obtaining a licence under a new Crowdfunding Service Providers Regulation

Professionals of the law firm TESET advised the crowdfunding platform letsinvest.eu on obtaining the licence under a new Regulation (EU) 2020/1503 of the European Parliament and of the Council on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (after that – Crowdfunding Service Providers Regulation).

This is one of the first licences issued by the Bank of Lithuania to crowdfunding platforms under the new Crowdfunding Service Providers Regulation.

Professionals of the law firm TESET drafted all legal documents required for obtaining the crowdfunding platform licence under the new Crowdfunding Service Providers Regulation, represented the client at the Bank of Lithuania, updated a full set of contractual documentation (terms and conditions of the platform, loan agreement, collateral transaction documents etc.) and drafted other crowdfunding platform documents required for the activity of crowdfunding platform under the new Crowdfunding Service Providers Regulation.