Chapter VII: Participative finance service providers

Participative finance service providers are the legal persons defined in e) of paragraph 1 of Article 2 of Regulation (EU) No 2020/1503 of 7 October 2020. They shall be authorised, under the conditions laid down in this regulation, by the Autorité des marchés financiers. If the applicant’s programme of operations includes facilitating the granting of loans, the authorisation as a participatory finance service provider shall be issued by the Autorité…

The key investment information sheet referred to in paragraphs 2 and 3 of Article 23 of Regulation (EU) No 2020/1503 of 7 October 2020 shall be drawn up in French. However, under the conditions and within the limits set by the General Regulation of the Autorité des marchés financiers, it may be drafted in a language other than French that is customary in financial matters. When disseminated in France, the…

Where the project promoter is a local authority, the provider of equity crowdfunding services shall inform it and the investors of the offences set out in Articles 432-10 to 432-12 of the French Penal Code and of the best practices established by the regulatory bodies to ensure compliance with these articles of the Penal Code.

Participatory finance service providers may also provide, under the conditions set out in Article L. 547-5, services identical to those mentioned in point ii) of a) of paragraph 1 of Article 2 of Regulation (EU) 2020/1503 of 7 October 2020 relating to participatory finance projects involving shares defined by decree.

The conditions set out in Chapters II, IV and V of Regulation (EU) 2020/1503 of 7 October 2020 are applicable to the provision of the services mentioned in Article L. 547-4, provided that the project promoter is a legal entity. The conditions of application of this article shall be specified by decree.

A provider of equity crowdfunding services wishing to engage in the activity referred to in Article L. 547-4 shall submit an application to the Autorité des marchés financiers, either when applying for authorisation as a provider of equity crowdfunding services, or when applying for an extension of authorisation, or by means of a separate application. The latter shall be processed in accordance with paragraphs 4 to 11 of Article 12…