Updated 18/09/2024
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Article 3 - Continuity of the provision of critical services

Article 3

Continuity of the provision of critical services

1.   The business continuity plan shall ensure that critical services, including those outsourced to third parties, continue to be performed despite the failure of the crowdfunding service provider or the third party to which critical services have been outsourced.

2.   The measures contained in the business continuity plan shall be adapted to the business model of the crowdfunding service provider and shall include arrangements ensuring the continuity of critical services through the outsourcing of some or all of such critical services to a third-party entity.

3.   The business continuity plan shall include provisions for:

(a)

notification of the client about the occurrence of an event of failure;

(b)

the clients’ access to information relating to their investments;

(c)

where applicable, the continued servicing of outstanding loans;

(d)

where applicable, the continuation of payment services as referred to in Article 10 of Regulation (EU) 2020/1503, including the arrangements referred to in paragraph 5 of that Article;

(e)

where applicable, the handover of asset safekeeping arrangements as referred to in Article 10 of Regulation (EU) 2020/1503.