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Regulation (EU) 2020/1503

Preamble
Recitals 79
Chapter I - General provisions (Article 1-2) 2
Chapter II - Provision of crowdfunding services and organisational and operational requirements of crowdfunding service providers (Article 3-11) 9
Chapter III - Authorisation and supervision of crowdfunding service providers (Article 12-18) 7
Chapter IV - Investor protection (Article 19-26) 8
Chapter V - Marketing communications (Article 27-28) 2
Chapter VI - Competent authorities and esma (Article 29-38) 10
Chapter VII - Administrative penalties and other administrative measures (Article 39-43) 5
Chapter VIII - Delegated acts (Article 44) 1
Chapter IX - Final provisions (Article 45-51) 7
Annexes 2
- Annex I
- Annex II

sophisticated investor

Defined in Article 2, Regulation (EU) 2020/1503

Definitions over time (1)

09/11/2020 – today applies on 12/11/2026 Article 2, Regulation (EU) 2020/1503 Scope: Whole act

1. For the purposes of this Regulation, the following definitions apply:

‘sophisticated investor’ means any natural or legal person who is a professional client by virtue of point (1), (2), (3) or (4) of Section I of Annex II to Directive 2014/65/EU or any natural or legal person who has the approval of the crowdfunding service provider to be treated as a sophisticated investor in accordance with the criteria and the procedure laid down in Annex II to this Regulation;

Used in (71 places in 17 provisions on 12/11/2026)

Regulation (EU) 2020/1503 (71 in 17)

Recital 42³ · Recital 43³ · Recital 44² · Recital 45² · Recital 46³ · Recital 47⁴ · Recital 49 · Article 2⁴ · Article 12 · Article 16 · Article 19 · Article 21¹⁹ · Article 22⁸ · Article 25 · Article 45 · Annex I · Annex II¹⁶