CSSF - Commission de surveillance du secteur financier

11/25/2022 | Press release | Distributed by Public on 11/25/2022 06:08

Communiqué relating to crowdfunding service providers

This communiqué follows up the "Press release 22/13", published by the Commission de Surveillance du Secteur Financier (CSSF) as per 10 June 2022 with regard to Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European Crowdfunding Service Providers for business and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (ECSP Regulation), which is directly applicable in all Member States since 10 November 2021.

The CSSF draws the attention of the persons concerned by the Regulation to the Commission Delegated Regulation (EU) 2022/1988 of 12 July 2022 extending the transitional period for continuing to provide crowdfunding services in accordance with national law as referred to in Article 48(1) of Regulation (EU) 2020/1503 of the European Parliament and of the Council, according to which the transitional period referred to in Article 48(1) of Regulation (EU) 2020/1503 is extended until 10 November 2023.

Accordingly, existing crowdfunding service providers operating under national law may continue to provide services within the meaning of the ECSP Regulation until they obtain the authorisation in accordance with the ECSP Regulation until 10 November 2023 at the latest.

It should be reminded that any legal person incorporated in Luxembourg which intends to provide crowdfunding services within the meaning of the ECSP Regulation, and which has not been active before 10 November 2021, must have been duly authorised by the CSSF before providing any crowdfunding service.

The CSSF further draws the attention to the delegated regulations adopted by the European Commission, published in the official journal of the European Union as per 8 November 2022, with regard to regulatory technical standards specifying the requirements of the Regulation. The related links are available under "Regulation and delegated acts"

Any communication regarding the crowdfunding service provision may be addressed to [email protected].

Publications made by the CSSF in relation to crowdfunding are available under the following link:

Crowdfunding service providers