Post by bigfoot12 on Feb 5, 2015 12:56:11 GMT
From Tuesday's FT
www.ft.com/cms/s/0/75049050-ab96-11e4-b05a-00144feab7de.html
FT seems to have it in for crowdfunding. The report doesn't seem as bad as that.
www.fca.org.uk/your-fca/documents/crowdfunding-review
They do say that there have been problems with the quantity and quality and presentation of information on many sites but "we contacted all the relevant firms and told them to make the necessary changes to their websites to ensure they were fair, clear and not misleading and fully compliant with our rules. All the firms we wrote to were keen to comply and most made the required changes with immediate effect."
And one conclusion:-
"In the months since we introduced our rules, we have seen the crowdfunding market continue to grow rapidly. We recognise that it is still early but, at present, we see no need to change our regulatory approach to crowdfunding, either to strengthen consumer protections or to relax the requirements that apply to firms. We plan to carry out a full post-implementation review of the crowdfunding market and regulatory framework in 2016 to identify whether changes are required at that stage."
www.ft.com/cms/s/0/75049050-ab96-11e4-b05a-00144feab7de.html
FT seems to have it in for crowdfunding. The report doesn't seem as bad as that.
www.fca.org.uk/your-fca/documents/crowdfunding-review
They do say that there have been problems with the quantity and quality and presentation of information on many sites but "we contacted all the relevant firms and told them to make the necessary changes to their websites to ensure they were fair, clear and not misleading and fully compliant with our rules. All the firms we wrote to were keen to comply and most made the required changes with immediate effect."
And one conclusion:-
"In the months since we introduced our rules, we have seen the crowdfunding market continue to grow rapidly. We recognise that it is still early but, at present, we see no need to change our regulatory approach to crowdfunding, either to strengthen consumer protections or to relax the requirements that apply to firms. We plan to carry out a full post-implementation review of the crowdfunding market and regulatory framework in 2016 to identify whether changes are required at that stage."
