2020R1503 - Summary
REGULATION (EU) 2020/1503 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (Text with EEA relevance)
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🇫🇷 French Version: 2020R1503_FR.0. Open the PDF. Direct link to EUR-LEX.
Article 1 - Subject matter, scope and exemptions
Article 2 - Definitions
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
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
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
Article 27 - Requirements regarding marketing communications
Article 28 - Publication of national provisions concerning marketing requirements
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
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
Article 44 - Exercise of the delegation
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
Annex I - KEY INVESTMENT INFORMATION SHEET
Annex II - SOPHISTICATED INVESTORS FOR THE PURPOSE OF THIS REGULATION