In its press release dated 25 November 2022, the CSSF followed up on its previous press release of 10 June 2022 regarding 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 (the “Regulation”), which has been directly applicable in all Member States since 10 November 2021.

The CSSF draws attention to the fact that existing crowdfunding service providers operating by virtue of national law, may continue to provide services as defined in the Regulation until they obtain authorisation pursuant to the Regulation, until 10 November 2023 at the latest.

Moreover, the CSSF reminds readers that any legal person incorporated in Luxembourg which intends to provide crowdfunding services as defined in the Regulation, and which was not active before 10 November 2021, must have been duly authorised by the CSSF prior to providing any crowdfunding services.

Finally, the CSSF draws attention to the delegated regulations adopted by the European Commission, published in the official journal of the European Union on 8 November 2022, regarding the regulatory technical standards specifying the Regulation’s requirements.

By Marie-Paule GILLEN and Marie JACQUET.