(3)To provide legal certainty as to the persons and activities falling within the scope of Regulation (EU) 2020/1503 and of Directive 2014/65/EU of the European Parliament and of the Council 4 , respectively, and in order to avoid a situation where the same activity is subject to multiple authorisations within the Union, legal persons authorised as crowdfunding service providers under Regulation (EU) 2020/1503 should be excluded from the scope of Directive 2014/65/EU.
Recital 3
- 4 Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU ( OJ L 173, 12.6.2014, p. 349 ). ↩