Investor protection and marketing communication

(Published as Crowdfunding Q&A 5.12) No, in such case, the CSP shall prevent the prospective non-sophisticated investor or non-sophisticated investor from investing. Indeed, as indicated by the European Commission in its answer to Question 5.1. [Q&A 814], Article 21(6) second paragraph which provide that prospective non-sophisticated investors and non-sophisticated investors shall not be prevented from investing does not apply to the specific situation of Article 21(7) of the ECSPR. When preventing a prospective non-sophisticated investor or non-sophisticated investor from investing, the CSP shall clearly indicate to the investor that it acts on the basis of applicable regulatory requirements aiming at the protection of investors.