Open hearing on crowdfunding consultation paper
The European Securities and Markets Authority (ESMA), the EU’s
securities markets regulator, will hold an open hearing for its
Consultation Paper on draft Technical Standards under the European
Crowdfunding Service Providers for Business Regulation (ECSPR) on 12
The consultation paper seeks the views of
interested parties on 7 draft Regulatory Technical Standards (RTS) and
2 Implementing Technical Standards (ITS) under the ECSPR. The
consultation period will end on 28 May 2021.
hearing will primarily be of interest to crowdfunding service
providers within the meaning of point (e) of Article 2(1) of the
ECSPR, competent authorities and other entities that are subject to
the ECSPR, trade associations and industry bodies, sophisticated and
non-sophisticated investors, consumer associations, as well as any
market participant engaged in the provision of crowdfunding services.
The indicative agenda for the hearing will follow the structure of the
Consultation Paper and discuss the draft RTSs and ITSs according to
the following headings: Complaint handling Conflicts of interest
Business continuity plan Application for authorisation Information to
client on default rate of projects Entry knowledge test and simulation
of the ability to bear loss Key investment information sheet Reporting
by crowdfunding service providers to NCAs (and NCAs to ESMA)
Publication of national provisions concerning marketing requirements
Disclaimer: RegRadar is not endorsed nor affiliated with the source authority. This material does not constitute any advice. This material is machine translated and does not constitute an official translation by the source authority. Please note that the information can be obtained free of charge through the source website.