Legal issues in the obligations for an effective and prudent management of crowdfunding service providers

A. INTRODUCTION B. ORGANISATIONAL RISKS OF CROWDFUNDING (AGENCY COSTS; CONFLICT OF INTEREST). SPECIAL ISSUES RELATED TO PRICING, AND CREDIT SCORING 1. Organizational requirements: general duties and the importance of financial intermediaries’ internal governance 2. Specific requirements for lending-based crowdfunding platforms C. RESPONSE IN THE ECSPR TO MANAGEMENT OF INVESTORS’ CREDIT RISK BY PLATFORMS’ D. CREDIT RISK ASSESSMENT AND CREDIT SCORING: OVERVIEW OF THE THEORETICAL BACKGROUND E. THE EBA’S DRAFT REGULATORY TECHNICAL STANDARDS F. CREDIT RISK OR CREDITWORTHINESS ASSESSMENT? G. CREDIT SCORING AND DATA PROTECTION H. CONCLUSIONS