Final Report - Draft technical standards under the European crowdfunding service providers for business Regulation

15/11/2021 | ESMA

1. Executive Summary

Reasons for publication

Regulation (EU) 2020/1503 (ECSPR) was published in the Official Journal of the European Union on 20 October 2020. The ECSPR requires ESMA to submit draft regulatory technical standards (RTS) and implementing technical standards (ITS) on a variety of topics.

On 26 February 2021, ESMA published a Consultation Paper to seek stakeholders’ views on ESMA’s proposals for 7 RTSs and 2 ITSs. The consultation period closed on 28 May 2021. ESMA received 32 responses, 8 of which were confidential. The answers received are available on ESMA’s website unless respondents requested otherwise.

In addition, ESMA developed 1 RTS and 2 ITS for which ESMA considered that conducting a public consultation would be highly disproportionate in relation to the scope and impact of these three technical standards1 .

ESMA sought the advice of the ESMA Securities and Markets Stakeholder Group’s (SMSG) established under Regulation (EU) No 1095/2010. 

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