FCA Warns Crowdfunding Firm Chiefs Over Harm To Investors
By Irene Madongo (August 18, 2021, 1:41 PM BST) -- The City watchdog has warned bosses of investment-based crowdfunding companies that they could personally be on the hook if they fail to ensure that consumers are aware of the risks of providing cash for businesses.
Investing has become more accessible because of advances in technology, and too many people are putting money into inappropriate high-risk investments that do not meet their needs, Debbie Gupta of the Financial Conduct Authority said in a "Dear CEO" letter published on Tuesday.
"We are also concerned that consumers may be holding more than 10% of their investment portfolio in these high-risk and speculative investments, which...
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