Article 27 Requirements regarding marketing communications

1.   Crowdfunding service providers shall ensure that all marketing communications about their services, including those outsourced to third parties, are clearly identifiable as such.

2.   Prior to the closure of raising funds for a project, no marketing communication shall disproportionately target planned, pending or current individual crowdfunding projects or offers.

The information contained in a marketing communication shall be fair, clear and not misleading, and shall be consistent with the information contained in the key investment information sheet, if the key investment information sheet is already available, or with the information required to be in the key investment information sheet, if the key investment information sheet is not yet available.

3.   For their marketing communications, crowdfunding service providers shall use one or more of the official languages of the Member State in which the marketing communications are disseminated or a language accepted by the competent authorities of that Member State.

4.   The competent authorities of the Member State in which the marketing communications are disseminated are responsible for overseeing compliance with, and enforcing vis-à-vis crowdfunding service providers, their national laws, regulations and administrative provisions applicable to marketing communications.

5.   Competent authorities shall not require an ex ante notification and approval of marketing communications.