CySEC launches policy on the full implementation of the EU crowdfunding regulation
11:13 - 17 March 2023
The Cyprus Securities and Exchange Commission (CySEC) has published a policy statement on the application in Cyprus of an EU regulation on crowdfunding.
In further detail, it has published Policy Statement PS-01-2023 on the application of Regulation (EU) 2020/1503 on European Crowdfunding Service Providers for business (PS-01-2023) and Directive DI73-2009-02 for Crowdfunding Service Providers (Directive DI73-2009-02) to inform prospective Crowdfunding Service Providers (CSPs), which intend to provide their services from Cyprus, and existing CSPs previously authorised under national rules, of the next steps towards the full implementation of Regulation (EU) 2020/1503 on European Crowdfunding Service Providers for Business (Regulation (EU) 2020/1503).
More specifically, PS-01-2023 and Directive DI73-2009-02:
Regulation (EU) 2020/1503lays down uniform rules across the EU for the provision of Crowdfunding Services which will enable CSPs to obtain an EU passport in accordance with a harmonised and enhanced investor protection framework.
A full copy of PS-01-2023 is available here.
Prospective CSPs that intend to provide their services from Cyprus, may submit an application by using the relevant application form of the Annex of the Commission Delegated Regulation (EU) 2022/2112 which will be published on CySEC’s website here.