Possible expansion of Class 6 Regulated Activity (Crowdfunding Platforms)

Closed 5 Oct 2018

Opened 23 Aug 2018

Contact

Dan Johnson

(Senior Manager – Policy and Authorisations)

+44 1624 689340

dan.johnson@iomfsa.im

Feedback updated 15 Oct 2019

We asked

We asked for views on expanding Class 6 regulated activity (Crowdfunding Platforms) to allow a limited market for the secondary trading of crowdfunded investments.

You said

We received eight responses, seven of which were broadly in favour of the proposals.

We did

Class 6 regulated activity was expanded to include provision for a secondary market on 1 June 2019.

Overview

The Isle of Man Financial Services Authority has issued a consultation paper CP18-04/T16. This paper is seeking views on the possible expansion of Class 6 Regulated Activity (crowdfunding platforms) to include limited secondary trading facilities. The proposals may be of interest to all regulated entities, potential crowdfunders, professional advisors as well as the general public, being potential consumers of investment-based crowdfunding platforms. The Authority welcomes feedback from interested parties.

Why your views matter

To obtain information and views in respect of the Authority’s possible expansion of Class 6 Regulated Activity (crowdfunding platforms) to include limited secondary trading facilities.

Areas

  • All Areas

Audiences

  • Elected members - MHKs
  • Elected members - local government
  • Tenants
  • Landlords
  • Employees
  • Older people
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  • Volunteers
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  • Parents, carers and & guardians
  • People with disabilities or long term illness
  • Leaseholders/ landowners
  • Lesbian, gay, transgender & bisexual
  • Civil and public servants
  • Black & minority ethnic
  • Business owner
  • Road users
  • All residents
  • Visitors & tourists
  • Other non-resident - business interests

Interests

  • Finance