28 November. 2019
The Cyprus Securities and Exchange Commission (the “CySEC”) issued a Consultation Paper regarding the introduction of specific rules on investment-based crowdfunding, for consultation with market participants regarding proposed changes in the regulatory framework.
The CySEC’s regulatory initiative is designed to allow crowdfunding investors to make informed investment decisions based on standardised, concise and clear information, through authorised intermediaries that will need to abide by MiFID II rules, inter alia
, on the code of conduct, management of conflict of interests and the holding of clients’ money and financial instruments, and product governance, in a proportionate manner.