In this policy statement (PS) we summarise and give response feedback to CP13/13 - The FCA’s regulatory approach to crowdfunding (and similar activities). We also publish rules that will come into force on 1 April 2014.
In this paper we outline the new regime that will apply to firms operating loan-based crowdfunding platforms (including peer-to-peer lending platforms).
We also update the regime applying to firms that either operate investment-based crowdfunding platforms or carry on similar regulated activities.
This policy statement will interest:
The new and amended rules come into force on 1 April 2014, subject to certain transitional arrangements. We plan to review the crowdfunding market and regulatory framework in 2016 to identify whether further changes are required.
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