ESMA · ESMA_QA_795 Answer Published

Use of Special Purpose Vehicles (SPV)

Name: Use of Special Purpose Vehicles (SPV): ESMA Q&A — EU Financial Regulatory Q&A
Creator: European Securities and Markets Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: Regulation 2020/1503 - European crowdfunding service providers for business
Article: Article 3(6)
Topic: Underwriting and placing
Submitted: 2021-02-25
Answered: 2021-02-25

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Question

Can an SPV give exposure to more than one underlying asset?

Answer

No. According to Article 3(6) of the ECSPR, an SPV cannot serve the purpose of enabling the offering to investors of exposure to more than one illiquid or indivisible asset. [Crowdfunding Q&A 1.3]

View original on European Securities and Markets Authority ↗

This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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