ESMA_QA_826
23/09/2022
Subject Matter
Investor protection and marketing communication
Original question
Can the condition set out in point (c) of Article 21(7) be fulfilled through other means than using the assessment referred to in Article 21(1) of the ECSPR as a proof that the prospective non-sophisticated investor or non-sophisticated investor understands the investment and its risks?
ESMA Answer
23-09-2022
Original language
(Published as Crowdfunding Q&A 5.13)
Yes. The condition set out in point (c) of Article 21(7) may be fulfilled through any means deemed relevant by the CSP for that purpose where those means ensure that the CSP may reasonably determine whether the investor understands the investment and its risks.
Status: Answer Published
Additional Information
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
Topic
Information to clients on topics other than costs and charges