MADRID, 05 February 2014
IOSCO Issues Report on Risks and Benefits of Financial Return Crowd-Funding
The Research Department of the International Organization of Securities Commissions (IOSCO) today
published a Staff Working Paper entitled Crowd-funding: An Infant Industry Growing Fast.
The report provides a global overview of the crowd-funding industry along with a mapping exercise of
the global regulatory landscape. It seeks to identify investor protection issues and to determine whether
crowd-funding poses a systemic risk to the global financial sector. The views expressed in this Staff
Working Paper are solely those of the IOSCO Research Department and do not necessarily reflect the
views of IOSCO or its members.