The FSMA publishes, in accordance with article 28, (1) of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, the national laws, regulations and administrative provisions applicable to marketing communications of crowdfunding service providers.Article 5 of the Law of 18 December 2016 relating to crowdfunding1 reads: “The marketing communications for a crowdfunding offer may not be disseminated in a language other than the language(s) in which the key investment information sheet is made available in Belgium.”
The key investment information sheet must be drawn up in at least one of the official languages or in English. If a project owner or a crowdfunding service provider has a place of business in Belgium, that person is required to comply with the Belgian language legislation.
1 As modified by Article 11 of the Act of 23 February 2022 implementing regulation (UE) 2020/1503 of the European Parliament and the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 and transposing Directive (EU) 2021/338 of the European Parliament and the Council of 16 February 2021 as regards information requirements, product governance and position limits, and Directives 2013/36/EU and (EU) 2019/878 as regards their application to investment firms, to help the recovery from the COVID-19 crisis.