Crowd control: FCA consultation on regulation of crowdfunding
Recently the FCA published a consultation paper (the CP) on its regulatory approach to crowdfunding. This briefing sets out how the CP will affect firms that operate crowdfunding platforms.
Overall, the FCA’s proposals relate to protecting retail investors who, in the FCA’s view, lack the knowledge, experience and resources to cope with possible significant losses, while promoting effective competition in the interests of consumers.
The CP outlines the FCA’s proposals for regulating loan-based and investment-based crowdfunding. While the FCA has identified other types of crowdfunding, such as those involving donations to support enterprises or organisations, these other types do not fall within the scope of FCA regulation…
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