Practical guide for (future) crowdfunding service providers has been saved
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Practical guide for (future) crowdfunding service providers
Do you facilitate crowdfunding in Europe? Then you may need a crowdfunding service provider license (also referred to as an ECSPR-license). You can find below some key facts on the EU Crowdfunding Regulation, a simple step plan (including timelines) to obtain a license and an overview of the most relevant license requirements.
To help you determine your position under the EU Crowdfunding Regulation, we prepared a helpful Q&A tool. You can answer some basic questions regarding your (intended) business below and you will immediately receive an indication of whether your business needs an ECSPR-license. Should the Q&A tool indicate the need for an ECSPR-license, we are here to help. Please reach out to the contacts listed below – or your usual Deloitte contact – and we will gladly provide you with an overview of our multidisciplinary support solutions.
Are you (planning to be) a crowdfunding service provider? Start the Q&A tool here!
To help you determine your position under the EU Crowdfunding Regulation, answer the questions below.
We have taken great care in preparing the Q&A tool, but please be aware that this tool is for informational purposes only. Any results obtained from the Q&A tool are no substitute for legal advice and in no way constitute an opinion or advice by or on behalf of Deloitte. Please note that all information in this article is general information. Specific requirements might apply for specific situations.
Some key facts on the EU Crowdfunding Regulation
In summary:
- the EU Crowdfunding Regulation applies in the EEA since 10 November 2021 and has direct effect in the Netherlands;
- after the regulation’s transitional period of 10 November 2023, Crowdfunding Service Providers (CSPs) may in principle no longer offer services without a license;
- license applications should be addressed to the Authority for the Financial Markets (AFM), the authorized Dutch supervisory authority; and
- once obtained, licensed CSPs will be registered in ESMA’s CSP register.
License application step plan
License requirements
Summarizing the above, the following ongoing license requirements apply:
- Effective and prudent management through policies and procedures;
- High-level due diligence & KYC of project owners and the appropriateness of non-sophisticated investors;
- Prudential requirements of at least the higher of EUR 25,000 or ¼ of the fixed overheads of the preceding year;
- Yearly projects reporting to AFM and ESMA; and
- The provision of fair, clear and not misleading information to clients and a Key Investment Information Sheet (KIIS) to investors.
Closing remarks
We hope this webpage has been helpful.
If you have any questions, or if we can otherwise be of assistance – please do not hesitate to reach out. We are happy to support you every step of the way.
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