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Consultation on reforms to crowdfunding rules
The Financial Conduct Authority (FCA) has announced a consultation that will seek views on reforms to crowdfunding rules early in 2017. The proposed changes are intended to protect crowdfunding investors. According to an FCA interim report, there is evidence of loan-based platforms making "inadequate disclosures about risk and loan performance" and of investment-based platforms "downplaying" investment risk. The changes will be finalised in summer 2017.