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Operating as a crowdfunding service provider in France

In which cases can you apply to the AMF for authorisation to become a crowdfunding service provider? How do you obtain this authorisation? Have you been authorised as a crowdfunding service provider in another Member State of the European Union (EU) and would like to offer your services in France? Find all the useful information here.

Background

Regulation (EU) 2020/1503 on European crowdfunding service providers for business (the "Regulation") entered into force on 10 November 2021. It will be supplemented by delegated and implementing regulations laying down technical regulatory and implementing standards, which entered into force on 28 November 2022.

Under this Regulation, since then, only crowdfunding service providers are authorised to carry out the crowdfunding services that fall within its scope, whether they concern crowdlending (excluding free loans) or equity crowdfunding.

The Regulation defines a crowdfunding service as "the matching of business funding interests of investors and project owners through the use of a crowdfunding platform and which consists of any of the following activities:

i) the facilitation of granting of loans;

ii) the placing [without guarantee] of transferable securities and admitted instruments for crowdfunding purposes issued by project owners or a special purpose vehicle, and the reception and transmission of client orders (…)".

The Regulation only covers offers proposed on the crowdfunding platform for activities of a commercial nature and for an amount of less than 5 million euros over 12 months.

Although it requires that these service providers obtain prior authorisation and comply with organisational and investor protection rules, the Regulation allows them to provide crowdfunding services in the European Union, subject to prior notification.

The crowdfunding regulatory framework in France

Order 2021-1735 of 22 December 2021 modernising the crowdfunding framework, supplemented by Decree 2022-110 of 1 February 2022, adapts the French crowdfunding framework as a result of this Regulation.

On the one hand, these instruments abolished the French regime for crowdfunding investment advisers (CIAs) and investment services providers authorised to provide the advisory service of offering financial securities via a website under the terms defined in Article L. 533-22-3 of the Monetary and Financial Code as it stood prior to the entry into force of the aforementioned order (crowdfunding ISPs), and likewise abolished the minibons regime. The crowdfunding intermediary regime, supervised by the ACPR, remains in place only for activities involving interest-free loans and donations. The national regimes for CIAs and crowdfunding intermediaries (for the part falling within the scope of the Crowdfunding Service Providers Regulation) definitively ceased to exist on 10 November 2023.

On the other hand, this order designates the AMF as the authority for authorising, supervising, sanctioning and withdrawing the authorisation of crowdfunding service providers. Where the applicant's programme of operations includes facilitating the granting of loans, the AMF does not grant the crowdfunding service provider authorisation until it has received a favourable opinion from the ACPR, which works with the AMF to supervise and monitor this type of player.

A single crowdfunding service provider authorisation

Since 10 November 2021, any person wishing to develop a crowdfunding services activity within the scope of the Regulation must apply for a crowdfunding service provider authorisation before engaging in this activity.

The illegal exercise of this activity without authorisation is punishable under criminal law (Articles L. 573-12 et seq. of the Monetary and Financial Code).

feuilles

Authorisation process for French platforms

The provision of the crowdfunding services covered by the Regulation requires prior authorisation from the AMF, which may be granted within three months of the submission of a full application file.

If the applicant's programme of activities includes facilitating the granting of loans, the ACPR, on behalf of the AMF, may contact the project leader directly to ask further questions and set a deadline for reply. 

The six stages of the authorisation process:

  1. Presentation of the project to the AMF (recommended)
  2. Filing of an authorisation application
  3. Verification that the application is complete. The AMF brings in the ACPR when the applicant's programme of operations includes the facilitation of lending
  4. Examination of the application
  5. Decision to grant or refuse authorisation
  6. The AMF's decision, if applicable, after the approval of the ACPR if the applicant's programme of operations includes the facilitation of lending

The diagram below explains the accreditation process.

Contact the AMF to present the project

The applicant contacts the AMF at psfp@amf-france.org to present its project to it and, if necessary, to the ACPR, before the authorisation application is formally filed. This stage is recommended to allow prior discussion of any difficulties and complexities in the file, and then to allow for optimal processing.

The AMF and ACPR strongly suggest that you seek advice when preparing your application.

Submit the authorisation application

Your application must be officially submitted on the ROSA extranet. This will trigger the application completion and examination deadlines. Based on the draft technical regulatory standards proposed by ESMA, which may be adopted by the Commission in 2022, the AMF has prepared a standardised form and a standard authorisation application letter. You are strongly advised to attach these documents to the application, in order to reduce the risk of an incomplete application, which will be rejected, and to facilitate its examination.

Communicate with the AMF and, where applicable, the ACPR, during the application examination phase

Once the application is complete, the AMF examines it and decides whether or not to approve the applicant. If the applicant's programme of operations includes the facilitation of lending, the authorisation can only be issued once the ACPR has given its assent. In this connection, during this phase, the AMF and ACPR may need to discuss the information in the application with the company. The quality and timeliness of the response has an impact on the time taken to process the application.

List of crowdfunding service providers authorised by the AMF

You will find hereunder the list of crowdfunding service providers authorised by the AMF, if necessary after clearance by the ACPR, pursuant to Article L. 547-1 of the Monetary and Financial Code.

Authorisation No.

Name

Trade name

Trade and Companies Register No.

Date of authorisation

Services

Passeport
yes (countries) / no

FP-2022-1

Villyz

Villyz

884 826 520

06/09/2022
(Authorisation)

Facilitation the granting of loans

No

08/11/2022
(Extension)

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

FP-2022-2

Enerfip SAS

Enerfip 

804 231 546

06/12/2022
(Authorisation)

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Spain, Belgium, Luxembourg, Netherlands, Germany, Italy, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Latvia, Lithuania, Malta, Poland, Portugal, Czech Republic, Romania, Slovakia, Slovenia, Sweden

17/06/2024
(Extension)
Facilitation the granting of loans

FP-2022-3

Beefordeal SAS

Beefordeal 

818 922 080

20/12/2022

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-1

Soul Invest SAS

The Moon Venture

Soul Invest 

908 336 373

23/01/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-2

Crowdybee SAS

Crowdybee 

901 510 321

08/03/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-3

Tokimo SAS

Tokimo

915 310 106

17/05/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-4

Blocks SAS

Stomea

912 098 787

23/05/2023

Facilitation the granting of loans / The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-5

Raizers SAS

Raizers 

804 419 901

20/06/2023

Facilitation the granting of loans / The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Belgium, Luxembourg, Italy, Spain, Portugal, Netherlands

FP-2023-6

Wiseprofits SAS

WeSharesBonds

812 309 284

4/07/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-7

NRNC SAS

The Clique

913 428 827

23/06/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-8

Bricks SAS

Bricks.co

891 762 023

30/06/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Spain, Belgium, Luxembourg, Netherlands, Germany, Italy, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Latvia, Lithuania, Malta, Poland, Portugal, Czech Republic, Romania, Slovakia, Slovenia, Sweden

FP-2023-9

Sowefund SAS

Sowefund

798 611 117

11/07/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-10

Wevest SAS

Wevest 

948 223 086

28/07/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-11

GwenneG

GwenneG

808 867 220

31/07/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-12

Blast SAS

Blast Club

915 236 640

21/08/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-13

Monego

Monego

813 155 074

14/09/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-14

Kiwaï

Kiwaï et Kiwaï Normandie

852 939 065

26/09/2023

Facilitation the granting of loans / The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-15

La Première Brique

La Première Brique

848 713 442

28/09/2023

Facilitation the granting of loans

No

FP-2023-16

October IFP

October

808 353 155

20/10/2023

Facilitation the granting of loans

Yes
Germany, Spain, Italy, Netherlands

FP-2023-17

Lumo

Lumo

749 957 486

25/10/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-18

Fundimmo

Fundimmo

802 497 099

25/10/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-19

Matis

Matis

922 588 488

07/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Belgium, Italy, Luxembourg

FP-2023-20

Alter Finance

Fundhero

808 351 407

06/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-21

Lymo Finance

Lymo Finance

812 168 086

07/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-22

Lendosphere

Lendosphere

805 178 860

07/11/2023

Facilitation the granting of loans / The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes
Spain

FP-2023-23

Credofunding

Credofunding

807 647 615

07/11/2023

Facilitation the granting of loans / The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-24

Citesia

Citesia

832 340 129

08/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes
Spain

FP-2023-25

Anaxago

Anaxago

539 539 064

09/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-26

Lendopolis

Lendopolis

804 606 796

08/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-27

1001Pact

Lita.co

805 139 383

09/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes
Belgium, Italy

FP-2023-28

Les Entrepreteurs

Les Entrepreteurs

805 291 317

09/11/2023

Facilitation the granting of loans /The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes
Germany, Belgium, Spain, Poland, Portugal, Luxembourg

FP-2023-29

Happy Capital

Happy Capital et My Capital Immo

791 766 397

09/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-30

Baltis

Baltis

811 566 991

09/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-31

Homunity

Homunity

804 388 627

09/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Poland, Netherlands, Spain, Belgium, Luxembourg, Germany, Italy, Portugal

FP-2023-32

Seed and collect

Seed and collect

812 585 495

10/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-33

Wiseed

Wiseed

504 355 520

15/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes
Belgium, Germany, Spain, Italy, Luxembourg, Netherlands

FP-2023-34

Koregraf

Koregraf

807 672 977

14/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes              

No

FP-2023-35

Urbanis finance

Collecticity

811 371 236

21/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-36

Vatel Direct SAS

Vatel Direct

814 648 119

24/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-37

Finple

Finple

794 570 994

24/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023- 38

Ulends

Bienprêter

832 998 108

24/11/2023

Facilitation the granting of loans

No

FP-2023-39

Bulb in Town

Tudigo

788 438 406

24/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-40

Clubfunding SAS

Clubfunding

807 764 980

24/11/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

Yes

Spain, Belgium, Luxembourg, Netherlands, Germany, Italy, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Latvia, Lithuania, Malta, Poland, Portugal, Czech Republic, Romania, Slovakia, Slovenia, Sweden

FP-2023-41

AM Equity

Upstone

815 138 011

07/12/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2023-42

M Capital Invest

BUILDR

914 949 714

21/12/2023

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-1

Crown Funding

Crown Funding

914 501 952

03/01/2024

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-2

Invest in Pacific

Invest in Pacific

20 16 B (D59213)

03/01/2024

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-3

Options

Myoptions

818 438 103

02/01/2024

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-4

Equisafe Invest

Equisafe Invest

900 651 332

05/01/2024

The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-5

Groupe MiiMOSA

MiiMOSA

803 980 218

05/01/2024

Facilitation the granting of loans /The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposes

No

FP-2024-6Xperts CrowdfundingXperts Crowdfunding914 696 55415/04/2024 The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposesNo
FP-2024-7 UnitupPretup et Unilend809 593 81712/02/2024 Facilitation the granting of loansNo
FP-2024-8 ZaleoZaleo922 479 40712/02/2024 The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposesNo
FP-2024-9Blast Angels EuropeBlast Angels953 656 71715/03/2024 The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposesYes
Spain, Denmark, Finland, Netherlands, Sweden, Italy, Germany, Austria, Ireland, Poland
FP-2024-10Mahana CapitalMahana Capital883 025 30628/03/2024 The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposesNo
FP-2024-11We Take PartWe Take Part912 891 86810/06/2024 The placing without a firm commitment basis of transferable securities and admitted instruments for crowdfunding purposes issued by projet owners or a special purpose vehicle, and the reception and transmission of client orders in relation to those transferable securities and admitted instruments for crowdfunding purposesYes
Spain, Belgium, Luxembourg, Netherlands, Germany, Italy, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Latvia, Lithuania, Malta, Poland, Portugal, Czech Republic, Romania, Slovakia, Slovenia, Sweden

 

 

 

 

Click on the link below to find the European register of all crowdfunding service providers authorised in the European Union, including for cross-border services, in accordance with Articles 14 and 18 of Regulation (EU) 2020/1503 of 7 October 2020: https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_upreg

Operate in France (platforms authorised in another EU Member State)

Crowdfunding service providers authorised in another Member State of the European Union wishing to provide crowdfunding services in France must give prior notification to the competent authority in their home country in accordance with Article 18 of Regulation (EU) 2020/1503.

Once these formalities have been completed, if a crowdfunding service provider authorised in another Member State promotes a crowdfunding offer in France by means of a promotional communication, the key investment information sheet and all promotional communications disseminated in France must be in French. The AMF, together with the ACPR, has also published a Position DOC-2023-05 setting out its expectations regarding marketing communications disseminated in France.

Delegated and implementing legislation

Commission Delegated Regulation (EU) 2022/2111 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying conflicts of interest requirements for crowdfunding service providers
Commission Delegated Regulation (EU) 2022/2112 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying requirements and arrangements for the application for authorisation as a crowdfunding service provider
Commission Delegated Regulation (EU) 2022/2113 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards for the exchange of information between competent authorities in relation to investigation, supervision and enforcement activities in relation to European crowdfunding service providers for business
Commission Delegated Regulation (EU) 2022/2114 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying the entry knowledge test and the simulation of the ability to bear loss for prospective non-sophisticated investors in crowdfunding projects
Commission Delegated Regulation (EU) 2022/2115 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying the methodology for calculating default rates of loans offered on a crowdfunding platform
Commission Delegated Regulation (EU) 2022/2116 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying the measures and procedures for crowdfunding service providers’ business continuity plan
Commission Delegated Regulation (EU) 2022/2117 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying the requirements, standard formats and procedures for complaint handling
Commission Delegated Regulation (EU) 2022/2118 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards on individual portfolio management of loans by crowdfunding service providers, specifying the elements of the method to assess credit risk, the information on each individual portfolio to be disclosed to investors, and the policies and procedures required in relation to contingency funds
Commission Delegated Regulation (EU) 2022/2119 of 13 July 2022 supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards for the key investment information sheet
Commission Implementing Regulation (EU) 2022/2120 of 13 July 2022 laying down implementing technical standards for the application of Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to data standards and formats, templates and procedures for reporting information on projects funded through crowdfunding platforms