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Associazione Industriale Lombarda dei territori di Milano, Lodi, Monza e Brianza, Pavia

Assolombarda

Assolombarda è la principale associazione territoriale di Confindustria; promuove la crescita del territorio e del Paese attraverso lo sviluppo dell'industria e dell'imprenditorialità, rappresentando circa 7080 imprese attive in tutti i settori merceologici nella Città Metropolitana di Milano e nelle Province di Lodi, Monza Brianza e Pavia, con oltre 429.791 lavoratori all'interno dei territori di competenza ed alcune centinaia di migliaia nel territorio nazionale.

Lobbying Activity

Meeting with Pierfrancesco Maran (Member of the European Parliament)

6 Sept 2024 · Priorities new legislature

Meeting with Andrea Beltramello (Cabinet of Vice-President Valdis Dombrovskis)

25 Jun 2018 · Sustainable Finance

Response to Legislative proposal for an EU framework on crowd and peer to peer finance

9 May 2018

Assolombarda welcomes the initiative to implement a unified European regulatory framework for Crowdfunding Services Providers for Businesses which could hopefully expand the European SMEs possibilities to raise capital and to access to alternative financing. The regulation draft should therefore help to reduce the problems that the crowdfunding market is facing in Europe, which is largely due to the lack of common regulations and common pass portable licenses. Also, the idea to have single license to operate both an equity and a lending crowdfunding platform seems appropriate in order to allow the development and growth of strongly integrated platforms which could be able to provide both the services to the European SMEs on the full EU market.
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Response to Legislative proposal for an EU framework on crowd and peer to peer finance

24 Nov 2017

Our feedback (which contains also a more detailed proposal) is attached to this message in a file Position paper Assolombarda Inception Impact Assessment.pdf. Today there is free movement of people around the European Union but free movement of capital is still to be implemented. The EU’s Capital Markets Union project recognises these challenges and the development of crowdfunding market at EU level may significantly increase the amount of investment that can be raised. Europe needs to create globally competitive competitors also in the financial regulation business. It seems clear that the crowdfunding industry supports the goals of both the Capital Markets Union and the Digital Single Market. Crowdfunding is designed to enable anyone to invest in start-ups and SMEs via their mobile, tablet and PC irrespectively of the geographic location, hence it is a key way of bringing together investors from across Europe by facilitating cross-border investment and cross-borders lending. in order to achieve this goal, we deem it is crucial to ensure that the EU legal framework enable regulated cross-border investments/lending in crowdfunding, and we deem that today there are at least the three main outstanding issues, which are preventing the appropriate development of the crowdfunding business: (i) a commonly accepted license to let the platforms operate in all the EU Member States, (ii) a common prospectus threshold across Europe (for equity crowdfunding platforms) and (iii) common rules to be applied to investors (MIFID) and lenders based in the EU Member States. We strongly believe that the crowdfunding development at European level is a great opportunity to show that the Capital Market Union is a real opportunity and not only an idea. Each single EU market has confirmed a strong rate of growth over the past years and, in order to allow competitors scale up in the EU, it is necessary to support a cross borders business development. Considering that many of the existing players could be still interested in operating on a local basis, Option 4 seems the most advisable approach from the European Commission in order to create a specific applicable cross-borders regulation and let any platforms opt-in in order to apply this regime. It could be interesting to understand if this specific regulated EU regime shall be created ad hoc, or if it is rather possible and more useful to adapt the already existing rules (MIFID, PSD2, Prospectus Directive, 4AML, Consumer Laws, …) in order to properly balance the need to develop the cross-borders business of the platforms and the protection of retail investors and lenders, also taking into account that crowdfunding platforms shall act by generating trust and with a level of transparency to provide proportionate investors/lenders protection.
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Meeting with Alessandro Carano (Cabinet of Commissioner Violeta Bulc)

22 Nov 2017 · Bilateral with Mr Palamiti and Pietro Sala, nuovo Direttore agli Affari Istituzionali, Relazioni Esterne e Internazionalizzazione

Meeting with Frans Timmermans (First Vice-President) and

2 Sept 2016 · European Affairs