The Participatory Finance College of France (the entity that represents crowdfunding in France), along with FintechParis Europlace, the French Banking Federation, and France Post Marché (representing the banking institutions managing the plans), have announced they created a procedure for acquiring or subscribing to unlisted securities on the PEA or PEA PME via securities crowdfunding platforms.
PEA PME is the share savings plan for small and medium-sized enterprises.
The process is said to be enabled under the Pacte law, which makes participating securities and fixed-rate bonds eligible for the PEA PME, which may be an offering via a Participatory Financing Service Provider (PSFP—or crowdfunding provider).
Representatives of the banking institutions managing the plans and of the crowdfunding sector have defined a procedure to facilitate the registration of PEAs and PEA-PMEs of securities marketed on a platform.
This procedure aims to enable a simple, uniform and secure application. It is said to be based on an exchange of three documents between the investor/plan holder, the plan management institution and the issuing company.
This past June, Financement Participatif France (FPF), the French crowdfunding association and France Fintech (FFT) merged; when the merger was announced, FPF said it was in need of renewal and a broader sounding board.