The Financial Conduct Authority (FCA) is to regulate crowdfunding and peer-to-peer financing early next year. The FCA is the regulatory authority that oversees financial firms providing services to consumers and is the replacement body to the Financial Services Authority. The new regulator has published a consultation paper outlining its intended restrictions on traditional crowdfunding methods. It means products listed on crowdfunding websites may find it harder to source finance. Proposals include firms forced to disclose any potential risks and restricting sales to ‘sophisticated’ investors. It also intends on imposing restrictions
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