AFM adjusts crowdfunding investors assessment
Further to a meeting with the representatives of crowdfunding platforms, the AFM has decided to adjust the requirements regarding the investors assessment on three components:
· The first investor test only needs to be applied when an investment is contemplated in excess of € 500. Previously, this requirement applied to each investment.
· In the second investors test – when the total investment amount is higher than € 5000 – crowdfunding platforms solely have to ask certain questions regarding their personal assets and have to point out the risks involved in investing in crowdfunding;
· To each subsequent investment of € 5000 the above limited investors test can be applied.
The background of these changes is that the repetitive nature of the investors assessment is experienced as a too much of a burden by crowdfunding platforms.