ESMA · ESMA_QA_824 Answer Published

Investor protection and marketing communication

Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
Topic
Information to clients on topics other than costs and charges
Submitted
2022-09-23
Answered
2022-09-23
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Question

Can a CSP give full access to its platform to a prospective non-sophisticated investor or non-sophisticated investor refusing to share the result of its simulation to bear loss?

Answer

(Published as Crowdfunding Q&A 5.11) Yes. The simulation to bear loss is intended to help prospective non-sophisticated investors or non-sophisticated investors to assess whether an envisaged investment is aligned with their financial resources. The refusal of an investor to share the result of its simulation does not require a CSP to prevent such investor from investing under the ECSPR. In such case, pursuant to Article 21(6), non-sophisticated investors shall acknowledge that they have received the results of the simulation of the ability to bear loss.
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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