BFC Bulletins Monthly News Digest
Tags Marketplaces Online Lending Regulation
The United Kingdom (UK)’s Financial Conduct Authority (FCA) has unveiled some new proposed measures following a post-implementation review of its crowdfunding rules. The FCA says it has observed “some poor practice by some firms in the crowdfunding sector, particularly among loan-based platforms”. Based on its findings, the FCA is now inviting responses to several specific proposals to change the rules for loan-based firms. The new measures are aimed at ensuring the sustainable development of the market as well as providing appropriate consumer protections. This includes measures to: give investors clear and accurate information about potential investments, including risks; create transparent and robust systems for assessing risks; and promote good governance and orderly business practices.
