FCA MOVES AHEAD ON CROWDFUNDING REGULATION

摘要

In Accountancy's December 2013 issue (p52) we highlighted the proposals put forward by the Financial Conduct Authority (FCA) and the European Commission to regulate the crowdfunding industry. Following a consultation, the FCA has now issued a policy statement implementing many of the proposals from its original consultation paper. These measures took effect from 1 April 2014. The statement covers two alternative types of crowdfunding: 1. loan-based funding (often known as P2P lending), which refers to firms operating peer-to-peer or peer-to-business lending platforms; and 2. investment-based funding, which involves companies raising funds by issuing shares or debt securities.