Regulatory AlertsDOC-2023-05 Advertising Communications by Crowdfunding Service Providers
The French Financial Markets Authority (AMF) issued Position DOC-2023-05 to define regulatory expectations for the advertising communications of crowdfunding service providers (CSPs) operating in France. The guidance mandates that all promotional materials, whether for financial securities or loan facilitation, must be fair, clear, and not misleading across visual, textual, and comparative aspects. It specifically requires accurate presentation of risks, performance data, tax treatments, and strict consistency with official regulatory information documents such as Key Investor Information Documents.
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