Crowdfunding service provider approval
You are planning to offer commercial activities for less than €5 million with a view to bringing together the interests of investors and project owners in the field of crowdfunding financing and would you like to be assisted in your approval process? Are you operating under the status of CIP (crowdfunding investment advisor), crowdfunding ISP or IFP (intermediary in crowdfunding financing) and would like to apply for crowdfunding service provider’s approval to continue your activities?
Holder of the AMF certification and with 10 years of experience within the Autorité des marchés financiers,Anne RAOUL-TARDIEU assists you in the regulatory compliance of your activity.
Our firm assists you in all the steps necessary to obtain approval as a provider of crowdfunding services, from the start of your file to its completion, by preparing documentation adapted to your business model and advising you throughout the process.
Who is concerned by the status of a crowdfunding service provider?
Regulation (EU) 2020/1503 of 7 October 2020 on European crowdfunding service providers (CSP) for business defines crowdfunding service as the matching of business funding interests of investors and project owners through the use of a crowdfunding platform and which consists of any of the following activities :
- the facilitation of granting of loans (crowdlending);
- the placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purpose and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes
The scope of the regulation is restricted to offers of less than EUR 5 million (calculated over a 12-month period). It does not cover offers of free loans.
Pursuant to the Regulation, any person who intends to provide crowdfunding services shall apply for a CSP authorization before carrying out its activity.
The French regime of CIP and ISP crowdfunding will be phased out. The PFI status will be maintained for activities involving interest-free loans and donations.
Les CIP, PSI crowdfunding et IFP exerçant leurs activités de financement participatif avant le 10 novembre 2022 bénéficieront d’une période s’achevant le 10 novembre 2023 pour se faire agréer comme PSFP. Pour les nouveaux acteurs, l’agrément doit être obtenu avant le démarrage de leurs activités de financement participatif entrant dans le champ d’application du règlement.
Services offered
Our interventions:
- Legal advice
- Preparation of the accreditation file and support for the client in relation to the regulators during the accreditation process
- Rédaction des procédures (y compris LCB-FT) et politiques nécessaires à l’exercice des services de financement participatif