(Published as Crowdfunding Q&A 5.11)

Yes. The simulation to bear loss is intended to help prospective non-sophisticated investors or non-sophisticated investors to assess whether an envisaged investment is aligned with their financial resources. The refusal of an investor to share the result of its simulation does not require a CSP to prevent such investor from investing under the ECSPR. In such case, pursuant to Article 21(6), non-sophisticated investors shall acknowledge that they have received the results of the simulation of the ability to bear loss.