Loan-based Crowdfunding

Of Relevance to: Firms that operate loan-based crowdfunding platforms Those firms operating loan-based crowdfunding platforms – and specifically ones which facilitate loans to lending businesses – should have received, and actioned by now, a ‘Dear CEO’ letter from the FCA. The FCA is concerned that such lending businesses may be [...]

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Crowdfunding: FCA Interim Report

Of Relevance to: Firms offering crowdfunding Responses to its ‘call for input’ in July of this year on crowdfunding has left the FCA feeling that there is evidence of potential investor detriment. The Regulator has published its initial findings in Feedback Statement FS16/13. Initial findings re investment-based crowdfunding includes: Not [...]

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Client Money: Loan-Based Crowdfunding

Of Relevance to: Firms advising on P2P agreements; all firms undertaking ‘advising on investments Client Money: Loan-Based Crowdfunding The proposed changes to CASS to allow firms to hold money in relation to both P2P agreements (CASS protection) and business to business agreements (falls outside of CASS protection) without breaching CASS [...]

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