ESMA_QA_817
28/01/2022
Subject Matter
Investor protection and marketing communication
Original question
Can a KIIS be translated by a CSP at the request of a prospective investor?
ESMA Answer
28-01-2022
Original language
(Published as Crowdfunding Q&A 5.4)
A prospective investor can request a CSP to arrange for the translation of a KIIS into a language of his/her choice. The ECSPR does not create an obligation for CSP to accede to such request.
Where a CSP decides to accede to such request, the translation must faithfully and accurately reflect the content of the original KIIS.
Where a CSP decides not to accede to such request, the CSP must, in compliance with Article 23(13) of the ECSPR, clearly advise the prospective investor to refrain from investing.
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