This book covers a gap in legal literature, offering critical reflectionson the «European Crowdfunding Service Providers for Business» Regulation(ECSPR). The analysis approaches issues of financial stability,market adaptation and protection of all parties in Financial Return(FR) crowdfunding transactions (crowdfunders, issuers and serviceproviders) from an international and European point of view.The first part of the study introduces the regulatory framework surroundingFR-crowdfunding. It proposes a theory of three fundamentalEU principles of financial regulation which govern the regulation,supervision and enforcement of FR-crowdfunding.The second part of the study applies the fundamental principles introducedin Part I to support the strengthening of the ECSPR, the implementationof complementary FR-crowdfunding models and theenhancement of macro-prudential supervision at the EU level in casesof rescuing and restructuring state aid.
