Das Privatrecht des renditeorientierten Crowdfundings nach der ECSP-VO

The work offers the first comprehensive private-law analysis of the ECSP Regulation (EU) 2020/1503, closing a key gap at the interface of European supervisory law and national private law. It focuses on the triangular contractual relationship between crowdfunding service provider, project owner, and investor. The study systematizes these relationships, provides a doctrinal classification of the relevant liability regime—particularly Sections 32c et seq. WpHG and civil-law prospectus liability—and examines the spillover effects of supervisory regulation on private law. It concludes with a critical assessment of the Union’s regulatory approach. Aimed at scholars and practitioners in capital markets law.