ShareIn now directly authorised by the FCA
ShareIn are thrilled to announce that they are now authorised by the Financial Conduct Authority (FCA) to operate to a much wider audience. Prior to this they have been operating as an appointed representative of an FCA authorised entity that had more restrictive permissions as to who they could deal with.
ShareIn are very excited to be one of the very few UK equity crowdfunding sites to offer true crowd investment, ensuring that they help keep the crowd in crowdfunding! ShareIn is the first Scottish company to be authorised under the new crowdfunding regulations that came into effect on April 1, 2014.
Jude Cook, CEO of ShareIn states that for sites that do not have full FCA authorisation to deal with retail clients, the only option for ordinary people to invest is to agree to classify themselves as a professional client, which means they must waive their rights to complain to the Financial Ombudsman Service or to claim compensation under the Financial Services Compensation Scheme.
This sets ShareIn apart from seed equity crowdfunding sites that operate Unregulated Collective Investment Schemes, which are only allowed to deal with professional clients, high net worth individuals and sophisticated investors.
Anyone who agrees not to invest more than 10% of their “net investible assets” can invest on ShareIn. It’s not just for the rich or people already involved in early stage finance. It’s for anyone who understands the risks.
This is just the start of getting ordinary people interested in and investing in amazing early stage companies according to ShareIn !