Marketing communications of crowdfunding services providers

AMF Position DOC-2023-05 sets out requirements applicable in relation to ECSPs’ marketing communications. It provides clarifications regarding correctness, clarity and non-misleading nature of the information these marketing communication contain, as well as in terms of visual aspects, comparisons between products, vocabulary used, presentation of risks, mentions relating to the performance of the products or their tax treatment, references to the competent authorities or the various communication media used or consistency between marketing communications and regulatory information documents (key investment information sheet). This position applies to ECSPs provding services in France (either from France or on a cross-border basis, from another Member State) whether in relation to transferable securities or to the activity of facilitating the granting of loans.