New airline turns to crowdfunding to launch business class-only flights April 30, 2014 A new airline set up by a Goldman Sachs alumnus, which hopes to bring back business class-only flights to the States, is raising up to £5m through crowd-funding. Odyssey Airlines was founded by Adam Scott, a former banker who has assembled a team of start-up veterans including some of the founders of Silverjet, whose [...]
Our crowdfunding rules don’t limit innovation – they protect consumers April 6, 2014 ROHAN Silva’s piece on the FCA’s rules in City A.M. last week unfortunately confused our approach to peer-to-peer lending and securities-based crowdfunding. In the UK, market practice currently leads to lower risks for investors on most peer-to-peer lending platforms than on securities-based crowdfunding platforms, so we have drawn a distinction, adopting a disclosure-based approach for [...]
Another FCA blunder: Draconian crowdfunding rules threaten innovation April 3, 2014 HERE’S a question for all you clever City A.M. readers. What did the UK’s financial regulator do recently to provoke the following quote? “On a day like today, one has to wonder whether the Financial Conduct Authority is the worst regulator in the Western world.” You might well guess that it was the FCA’s cock-up [...]
City watchdog outlines new rules to govern crowdfunding firms March 6, 2014 THE FINANCIAL Conduct Authority (FCA) yesterday confirmed new rules for crowdfunding which, it says, will help protect consumers. Its aim is to give people access to “fair, clear information” when using loan-based or securities-based crowd funding platforms. A total of £28m was raised through crowdfunding last year – a 600 per cent increase from 2012. [...]
FCA confirms new rules for crowdfunding March 6, 2014 The Financial Conduct Authority (FCA) has confirmed new rules for crowdfunding which, it says, will help protect consumers. Its aim is to give people more access to “fair, clear information” when using loan-based or securities-based crowd funding platforms. £28m was raised through crowdfunding last year – a 600 per cent increase from 2012. The FCA [...]