In with the wrong crowd?
On 8th July, the FCA announced it was taking the first step in launching the crowdfunding post implementation review. The regulator outlined the size and characteristics of the market, including recent market developments, and invited all interested parties to offer feedback about areas that should be considered, what risks are emerging for consumers, and to provide their thoughts on the sector.
The FCA is responsible for regulating both loan-based and investment-based crowdfunding platforms.
The FCA has regulatory responsibility for crowdfunding where it involves a person carrying on the regulated activity of arranging deals in investments, or the communication of a financial promotion in relation to securities.
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