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Crowdfunding Regulation

Regulation (EU) 2020/1503 on European crowdfunding service providers for business
32020R1503 · official text on EUR-Lex

Articles

Chapter I General provisions

• Article 1 — Subject matter, scope and exemptions
• Article 2 — Definitions

Chapter II Provision of crowdfunding services and organisational and operational requirements of crowdfunding service providers

• Article 3 — Provision of crowdfunding services
• Article 4 — Effective and prudent management
• Article 5 — Due diligence requirements
• Article 6 — Individual portfolio management of loans
• Article 7 — Complaints handling
• Article 8 — Conflicts of interest
• Article 9 — Outsourcing
• Article 10 — Provision of asset safekeeping services and payment services
• Article 11 — Prudential requirements

Chapter III Authorisation and supervision of crowdfunding service providers

• Article 12 — Authorisation as a crowdfunding service provider
• Article 13 — Scope of authorisation
• Article 14 — Register of crowdfunding service providers
• Article 15 — Supervision
• Article 16 — Reporting by crowdfunding service providers
• Article 17 — Withdrawal of authorisation
• Article 18 — Cross-border provision of crowdfunding services

Chapter IV Investor protection

• Article 19 — Information to clients
• Article 20 — Default rate disclosure
• Article 21 — Entry knowledge test and simulation of the ability to bear loss
• Article 22 — Pre-contractual reflection period
• Article 23 — Key investment information sheet
• Article 24 — Key investment information sheet at platform level
• Article 25 — Bulletin board
• Article 26 — Access to records

Chapter V Marketing communications

• Article 27 — Requirements regarding marketing communications
• Article 28 — Publication of national provisions concerning marketing requirements

Chapter VI Competent authorities and esma

• Article 29 — Competent authorities
• Article 30 — Powers of competent authorities
• Article 31 — Cooperation between competent authorities
• Article 32 — Cooperation between competent authorities and ESMA
• Article 33 — Cooperation with other authorities
• Article 34 — Notification duties
• Article 35 — Professional secrecy
• Article 36 — Data protection
• Article 37 — Precautionary measures
• Article 38 — Complaint handling by competent authorities

Chapter VII Administrative penalties and other administrative measures

• Article 39 — Administrative penalties and other administrative measures
• Article 40 — Exercise of supervisory powers and powers to impose penalties
• Article 41 — Right of appeal
• Article 42 — Publication of decisions
• Article 43 — The reporting of penalties and administrative measures to ESMA

Chapter VIII Delegated acts

• Article 44 — Exercise of the delegation

Chapter IX Final provisions

• Article 45 — Report
• Article 46 — Amendment to Regulation (EU) 2017/1129
• Article 47 — Amendment of Directive (EU) 2019/1937
• Article 48 — Transitional period with respect to crowdfunding services provided in accordance with national law
• Article 49 — Temporary derogation with respect to the threshold set out in point (c) of Article 1(2)
• Article 50 — Transposition of amendment of Directive (EU) 2019/1937
• Article 51 — Entry into force and application