Adozione del Regolamento Consob in materia di fornitori di servizi di crowdfunding per le imprese (Comunicato del 5 giugno 2023)

The Consob has published a press release stating that, following a market consultation, it has, in collaboration with the Bank of Italy, adopted a Regulation on crowdfunding services for businesses, as required by article 4-sexies.1, comma 9, of the TUF (please see EventID#21655).
The adoption of this Regulation completes the process of aligning national legislation with the provisions of Regulation (EU) 2020/1503 and its delegated regulations.
Starting from 11 November 2023, only crowdfunding service providers that have obtained authorisation under Article 12 of Regulation (EU) 2020/1503 will be allowed to operate in Italy. Existing providers operating under national regulations, including managers currently registered with Consob’s portal managers register, can continue their activities in the country until 10 November 2023, or until they receive authorisation under the European Regulation, whichever comes first.
To avoid any interruptions in their activities from 11 November 2023, these providers are advised to submit their authorisation requests in a timely manner, considering the timing for obtaining authorisation under the European regulations.
Operators are encouraged to ensure that the authorisation application they submit to the Supervisory Authority is complete, clear, and consistent. In preparing the application, operators are also advised to consider all relevant regulations, including the delegated regulations implementing Regulation (EU) 2020/1503, as well as the supervisory guidelines published by the Bank of Italy on 17 May 2023 (EventID#21262), regarding specialised crowdfunding service providers.
To facilitate the submission of authorisation applications, a fillable file is made available, which can be used for preparing the application. This file provides an editable format for the form attached to Commission Delegated Regulation (EU) 2022/2112 of 13 July 2022, and includes operational instructions to assist with its completion.