> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ecrop.de/llms.txt
> Use this file to discover all available pages before exploring further.

# Liability Roof (Effecta GmbH)

For intermediating crypto securities through our white-label crowdinvestment platform, `ecrop` GmbH cooperates with Effecta GmbH as a liability umbrella. This optional service provides issuers and investors with additional security and ensures compliance with complex legal requirements in the crowdinvestment sector, particularly the requirements of § 34f GewO. Effecta GmbH, as holder of the required permission under § 32 KWG, assumes liability for the intermediation activities of `ecrop` customers on the platform.

This section explains the benefits of the already technically and procedurally integrated liability umbrella, the legal foundations, and the cooperation process.

### Why a Liability Umbrella for Crypto Securities Intermediation?

Issuers of crypto securities using crowdinvesting as a financing instrument must meet the strict regulatory requirements of § 32 KWG (Banking Act) for investment intermediation. `ecrop` GmbH itself does not hold permission for investment intermediation but focuses on providing a white-label platform technically and maintaining the crypto securities register. To enable issuers to intermediate their securities in compliance with regulations, `ecrop` offers integration with Effecta GmbH as a liability umbrella. This offers the following advantages:

* **Compliance without own § 32 KWG Permission:** Issuers can offer and intermediate their crypto securities through `ecrop`'s white-label platform without having to apply for their own complex and costly permission under § 32 KWG. Cooperation with Effecta as a liability umbrella ensures necessary regulatory compliance.

* **Specialization and Focus:** Incorporating a liability umbrella enables clear task separation. `ecrop` focuses on technological infrastructure and registry, while Effecta handles regulatory aspects of intermediation. This specialization maximizes efficiency and expertise of both companies for a standardized product.

* **Flexibility and Scalability:** `ecrop`'s white-label platform offers issuers a flexible and scalable solution for crowdinvesting. Liability umbrella integration occurs seamlessly through standardized interfaces and requires no additional technical effort from issuers.

### Legal Foundations and Classification

Integration of Effecta GmbH as a liability umbrella occurs based on § 3 Para. 2 No. 34f GewO and creates a legally secure framework for crypto securities intermediation.

* **§ 3 Para. 2 No. 34f GewO (Tied Agent):** `ecrop` GmbH customers conducting intermediation of their crypto securities through the white-label platform act as tied agents (vgV) of Effecta GmbH. They intermediate in Effecta's name and under Effecta's liability. `ecrop` GmbH customers enter into a separate contract with Effecta GmbH regulating cooperation details.

* **Contract between `ecrop` Customer and Effecta:** The customer (issuer) enters into a separate contract with Effecta GmbH to use the liability umbrella service. This contract regulates cooperation details and includes:

  * **Liability Assumption:** Effecta assumes full liability for transactions conducted by tied agents through the white-label platform related to crypto securities intermediation.

  * **Professional Liability Insurance:** Effecta provides legally required insurance coverage according to § 34f Para. 4 GewO.

### Benefits for Issuers (`ecrop` GmbH Customers)

* **Compliance and Time Savings:** Issuers save time and costs as they don't need their own time-consuming and costly § 32 KWG permission for investment intermediation.

* **Risk Minimization:** Liability risk related to intermediation activities is assumed by Effecta GmbH.

* **Increased Attractiveness for Investors:** The liability umbrella and associated regulatory compliance increase investor trust and strengthen the attractiveness of crypto securities offered through the platform.

* **Market Access:** Through cooperation with Effecta, issuers gain access to regulated markets and a broader investor base, including institutional investors.

* **Reputation and Trust:** Effecta GmbH's reputation as an established financial services institution positively impacts issuers' and their projects' image.

* **Relief from Compliance Tasks:** Effecta handles complex compliance tasks, freeing issuers' time and resources for project development.

* **Access to Expertise:** Issuers benefit from Effecta GmbH's expertise in compliance and risk management.

### Cooperation and Process Flow (Simplified Representation)

`ecrop` and Effecta work closely together to ensure smooth operations and compliance with all regulatory requirements.

* **Provision of White-Label Platform:** `ecrop` develops and operates the white-label crowdinvestment platform and provides necessary interfaces to Effecta. The platform is designed to meet requirements of eWpG (Electronic Securities Act) and other relevant laws and regulations.

* **Contractual Agreement between Issuer and Effecta:** The `ecrop` customer (issuer) enters into a separate contract with Effecta to use the liability umbrella service.

* **Process for Crypto Securities Intermediation (via White-Label Platform with Liability Umbrella - Simplified Representation):**

  1. **Issuance and Platform Offering:** The issuer creates their crypto securities emission offering on `ecrop`'s white-label platform.

  2. **Investor Subscription:** Investors can subscribe to offered crypto securities through the platform. Subscription occurs through `ecrop`-provided interfaces integrated into the platform to Effecta.

  3. **Processing through Effecta:** Effecta GmbH processes crypto securities subscription and ensures compliance with all regulatory requirements.

  4. **Monitoring and Reporting:** `ecrop` monitors transactions and regularly reports to Effecta. Effecta monitors issuer compliance with requirements.