The Financial Conduct Authority (FCA) has published rules governing equity and lending-based crowdfunding in the UK. They are set to take effect on April 1 with a review scheduled for 2016.
Christopher Woolard, director of policy, risk and research at the FCA, said, ”We want to ensure that consumers are appropriately protected – but not prevented from investing.
“We have been careful to listen to feedback from the market and the rules provide consumer protection, whilst allowing businesses to continue to have access to this innovative method of funding.”
We’ll be slogging through the document over the coming hours and will have much more on this development soon. Stay tuned…