ESMA_QA_806
23/09/2022
Subject Matter
General provisions
Original question
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
Original language
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)