ESMA · ESMA_QA_817 Answer Published

Investor protection and marketing communication

Name: Investor protection and marketing communication: 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
Topic: Information to clients on topics other than costs and charges
Submitted: 2022-01-28
Answered: 2022-01-28

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Question

Can a KIIS be translated by a CSP at the request of a prospective investor?

Answer

(Published as Crowdfunding Q&A 5.4) A prospective investor can request a CSP to arrange for the translation of a KIIS into a language of his/her choice. The ECSPR does not create an obligation for CSP to accede to such request. Where a CSP decides to accede to such request, the translation must faithfully and accurately reflect the content of the original KIIS. Where a CSP decides not to accede to such request, the CSP must, in compliance with Article 23(13) of the ECSPR, clearly advise the prospective investor to refrain from investing.

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