Non c’è un mercato del venture capital forense a Bruxelles. La Corte di Giustizia si pronuncia sui soci investitori nelle società tra avvocati.

With the judgment Halmer UG v. Rechtsanwaltskammer München, the Grand Section of the Court of Justice of the European Union ruled that European law allows Member States to exclude purely financial investors from law firms. The reasons given to justify these restrictions lie in the need to protect professional independence and public trust. While these justifications may be acceptable in principle, the decision raises concerns about the proportionality and consistency of the restriction, as it did not consider less intrusive alternatives. This raises questions about the impact of the ruling on the fragmentation of the European venture capital market, highlighting the conflict between economic freedoms and national regulatory autonomy.