This book provides a comprehensive guide to EU regulation of crypto-assets and FinTech regulation more broadly. The authors explain the need for regulation in an accessible manner and against the background of the instances now dubbed the 'Crypto Winter', when millions of crypto investors lost billions of value due to technical malfunctions, misconduct, and fraud. They combine an in-depth perspective on the bespoke regulations of crypto-assets provided in the EU's Markets in Crypto-Assets Regulation (MiCA) and Pilot Regulation with the revised EU's AML/CTF legislation, operational risk regulation (DORA), and private law. They conclude by analysing how the combined new EU financial regulation addresses the causes of the Crypto Winter, and which risks remain despite the plethora of new policy action. Co-written by a world-leading FinTech expert, the book will be a go-to source for researchers and practitioners and a crucial guide for those navigating the field of crypto-assets.

Der Band dokumentiert die Beiträge der 18. Jahrestagung der Gesellschaft Junger Zivilrechtswissenschaftler. Als Kontrapunkt zu den auf das allgemeine Zivilrecht zugeschnittenen vorherigen Tagungen stand in dieses Mal das Sonderprivatrecht auf der Agenda. Ob im Bereich des Gewerblichen Rechtsschutzes, des Gesellschafts- und Bankrechts, im Kartell-, Schuld- und Kapitalmarktrecht oder im essenziellen Bereich der Methodik - in all diesen Gebieten wurden die Wechselwirkungen zwischen Recht und Wirtschaft in den Referaten und Diskussionen offengelegt.

In the ten years since its coming into force, the Alternative Investment Fund Managers Directive (AIFMD), with almost EUR 7 trillion assets under management in its remit, has become an important piece of European regulation complementing the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Markets in Financial Instruments (MiFI) frameworks.

This third edition of the most comprehensive and in-depth analysis of the AIFMD and its related European investment fund legislation (including the European Venture Capital Fund Regulation, the European Social Entrepreneurship Fund Regulation, the European Long-Term Investment Fund Regulation and the European Money Market Fund Regulation  among others) brings together fund industry experts, fund supervisors, consultants, lawyers and academics to discuss the content and system of the directive from every angle, including its relation not only to the UCITS and MiFI frameworks but also to pension funds, the Sustainable Finance Disclosure Regulation, the Securitization Regulation and the Cross Border Funds Distribution Directive and Regulation, as well as related pieces of tax regulation at the European level. Further, the third edition emphasizes the function of such factors in the financial services value chain as the following:

the AIFMD’s approach to robo-advisors; digital asset funds; infrastructure investments in the context of real estate and sustainable investments; risk management; transparency; and impact on alternative investment strategies.

Five country reports, focusing on the European Union’s five most important financial centres for alternative investment funds, deal with the potential interactions among the AIFMD and the relevant laws and regulations of France, Germany, Luxembourg, Ireland and The Netherlands.

This thoroughly updated edition elaborates on potential difficulties encountered when applying the directive and provides potential solutions to the problems it raises. The book is sure to be warmly welcomed by fund lawyers and consultants, investors and their counsels, fund managers, depositaries, asset managers and administrators, as well as regulators and academics in the field.

This book provides a comprehensive guide to EU regulation of crypto-assets and FinTech regulation more broadly. The authors explain the need for regulation in an accessible manner and against the background of the instances now dubbed the 'Crypto Winter', when millions of crypto investors lost billions of value due to technical malfunctions, misconduct, and fraud. They combine an in-depth perspective on the bespoke regulations of crypto-assets provided in the EU's Markets in Crypto-Assets Regulation (MiCA) and Pilot Regulation with the revised EU's AML/CTF legislation, operational risk regulation (DORA), and private law. They conclude by analysing how the combined new EU financial regulation addresses the causes of the Crypto Winter, and which risks remain despite the plethora of new policy action. Co-written by a world-leading FinTech expert, the book will be a go-to source for researchers and practitioners and a crucial guide for those navigating the field of crypto-assets.

Der Band dokumentiert die Beiträge der 18. Jahrestagung der Gesellschaft Junger Zivilrechtswissenschaftler. Als Kontrapunkt zu den auf das allgemeine Zivilrecht zugeschnittenen vorherigen Tagungen stand in dieses Mal das Sonderprivatrecht auf der Agenda. Ob im Bereich des Gewerblichen Rechtsschutzes, des Gesellschafts- und Bankrechts, im Kartell-, Schuld- und Kapitalmarktrecht oder im essenziellen Bereich der Methodik - in all diesen Gebieten wurden die Wechselwirkungen zwischen Recht und Wirtschaft in den Referaten und Diskussionen offengelegt.

In the ten years since its coming into force, the Alternative Investment Fund Managers Directive (AIFMD), with almost EUR 7 trillion assets under management in its remit, has become an important piece of European regulation complementing the Undertakings for Collective Investment in Transferable Securities (UCITS) and the Markets in Financial Instruments (MiFI) frameworks.

This third edition of the most comprehensive and in-depth analysis of the AIFMD and its related European investment fund legislation (including the European Venture Capital Fund Regulation, the European Social Entrepreneurship Fund Regulation, the European Long-Term Investment Fund Regulation and the European Money Market Fund Regulation  among others) brings together fund industry experts, fund supervisors, consultants, lawyers and academics to discuss the content and system of the directive from every angle, including its relation not only to the UCITS and MiFI frameworks but also to pension funds, the Sustainable Finance Disclosure Regulation, the Securitization Regulation and the Cross Border Funds Distribution Directive and Regulation, as well as related pieces of tax regulation at the European level. Further, the third edition emphasizes the function of such factors in the financial services value chain as the following:

the AIFMD’s approach to robo-advisors; digital asset funds; infrastructure investments in the context of real estate and sustainable investments; risk management; transparency; and impact on alternative investment strategies.

Five country reports, focusing on the European Union’s five most important financial centres for alternative investment funds, deal with the potential interactions among the AIFMD and the relevant laws and regulations of France, Germany, Luxembourg, Ireland and The Netherlands.

This thoroughly updated edition elaborates on potential difficulties encountered when applying the directive and provides potential solutions to the problems it raises. The book is sure to be warmly welcomed by fund lawyers and consultants, investors and their counsels, fund managers, depositaries, asset managers and administrators, as well as regulators and academics in the field.