THE EUROPEAN Crowdfunding Network (ECN) has joined a pan-European trade body for financial advisers and intermediaries, in a move that is expected to create a stronger understanding between traditional and alternative finance sectors.
The ECN, which has more than 60 corporate members, has become the latest member of the Brussels-based non-profit organisation, the European Federation of Financial Intermediaries and Financial Advisers (FECIF).
“In light of current regulatory developments in the crowdfunding and peer-to-peer industry, being part of FECIF will help us to deepen our members’ understanding of the issues that European financial advisers and intermediaries face and further the development of a prudential alternative finance sector,” said Oliver Gajda, executive director of the ECN,
“We look forward to working with FECIF to help support the continual development of advisers and intermediaries within Europe and to ensure knowledge transfer to the crowdfunding and peer-to-peer finance sectors.”
The ECN promotes transparency, self-regulation and governance within the crowdfunding sector. It counts peer-to-peer lenders such as the UK’s Rebuildingsociety and France’s Lumo among its members, as well as equity crowdfunding platforms such as Crowdcube and Angels Den.
More traditional financial companies are also members, including law firms such as Dentons, insurance company Allianz and auditor KPMG Belgium.
David Charlet, FECIF chairman, said it is important for new and disruptive businesses to link and work with more classical ones.
“It also proves that FECIF is a very relevant representative body for every kind of organisation that provides financial advice or intermediation in one form or another,” he added.
The FECIF represents more than 30 trade bodies and industry organisations.