Updated 18/09/2024
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Article 4 - Risk warning pursuant to Article 21(4) of Regulation (EU) 2020/1503

Article 4

1.   When issuing the risk warning referred to in Article 21(4) of Regulation (EU) 2020/1503, crowdfunding service providers shall not encourage prospective non-sophisticated investors to proceed with the investment.

2.   The risk warning referred to in paragraph 1 shall contain the following text:

An investment in a crowdfunding project includes the risk of losing the entirety of the money invested.

3.   The risk warning referred to in paragraph 1 shall be displayed to prospective non-sophisticated investors in an easily readable and prominent way on the crowdfunding service providers’ website.

4.   The window displaying the risk warning referred to in paragraph 1 shall be prominent and remain visible on the crowdfunding service providers’ website until the prospective non-sophisticated investors have acknowledged that they have received and understood that warning.