Crowdfunding — the FCA publishes the rules
In October 2013, the Financial Conduct Authority (FCA) published a consultation paper setting out its proposed approach to the regulation of crowdfunding platforms. Having analysed the feedback it received, on 6 March 2014 the FCA published a policy statement detailing its response to this feedback and, most importantly, setting out the rules that will apply from 1 April 2014.
What is crowdfunding? The FCA’s description is as follows: ‘Crowdfunding is a way in which people, organisations and businesses, including business start-ups, can raise money through online portals [crowdfunding platforms] to finance or refinance their activities.’ The FCA goes onto say: ‘Some crowdfunding activity is unregulated, some is regulated and some is exempt from regulation.’
Crowdfunding is an increasingly important part of business finance in the UK. The financial crisis meant that traditional sources of business finance became harder to access, while technological innovation allowed alternative options to enter the market. Crowdfunding has grown quickly. In the feedback to its recent consultation, the FCA was given notice of the following figures…
Click on the link below to read the rest of the Wragge & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Wragge Lawrence Graham & Co
News from The Lawyer
Briefings from Wragge Lawrence Graham & Co
The case of FOA (Kaltoft) v Billund (C-354/13) is the first time the Court of Justice of the European Union (CJEU) has considered issues concerning obesity-based discrimination. More specifically, it has looked at whether obesity can be classed as a ‘disability’ under the Equal Treatment Directive.
Wragge Lawrence Graham & Co’s dedicated insolvency litigation team brings you its monthly update on the issues affecting the insolvency and fraud investigation industry.