VERIFICATION STAGE

• assessment of the Applicant’s needs and ability to provide services independently or through a third party
• review of the founders’ business concept and resources for the possibility of applying for an ECSP license
• analysis of the jurisdiction in terms of the “friendliness” of the regulatory environment for the ECSP
• implementation of necessary corporate changes to, among other things, meet prudential requirements or remove the risk of conflicts of interest

PREPARATION STAGE

• analysis and qualification of planned crowdfunding services or those already provided in the context of bringing them into compliance with ECSP licensing requirements, including determining the scale, nature and area of planned activities

APPLICATION DOCUMENTATION STAGE

• model program of operation of the ECSP
• model internal procedures (risk management procedures, accounting procedures, description of management principles and internal control mechanisms, description of systems, resources and procedures for control and protection of data processing systems, description of operational risks, business continuity plan, description of internal policies applied to prevent conflicts of interest, outsourcing procedures, handling of customer complaints, procedures for verification of completeness, correctness and clarity of information contained in the key investment information sheet, procedures concerning investment limits for inexperienced investors) to be approved by the Principal and supplemented for specific solutions
• assistance in operationalizing the model documentation
• guidelines for the documentation necessary for the Applicant to accumulate, confirming good reputation, possession of sufficient knowledge, skills and experience to manage the ECSP by the individuals managing the Applicant
• enumeration of the required and possessed prudential protection measures, along with preparation of their description for the application
• assistance in obtaining an insurance policy or comparable guarantee
• application to the competent authority for authorization to operate as an ECSP

PROCEEDING STAGE

• periodic communication with the authority as to the progress of the case
• drafting responses to requests for additional clarifications and documents
• execution of adjustments required by the authority in the course of the proceedings
• obtaining a license (including obtaining formal confirmation of receiving a license with the establishment of a license date)

START-UP STAGE

• assistance in updating information in registers, letters, websites
• assistance in drafting the key information sheet
• guidelines for filling all positions and functions, as well as register changes
• workshop on the execution of internal procedures
• instruction on payment of supervisory fees
• instruction on executing reporting obligations