ESMA_QA_806
23/09/2022
Subject Matter
General provisions
    Can crowdfunding services and investment services and activities provided in accordance with MiFID II be provided by means of the same internet-based information system?
    ESMA Answer
    23-09-2022

      Yes, provided that the distinction between crowdfunding services and MiFID II investment services and activities is very clear to the client at any moment, including with regards to the regulatory framework applicable to such services or activities. In practice, this should mean two separate areas: one for crowdfunding services and one for services and activities provided in accordance with MiFID II. This does not preclude the use of a single sign-on (SSO) authentication to access both those areas.

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Regulation 2020/1503 - European crowdfunding service providers for business
      Topic
      Control functions (Compliance, Risk and Audit)