Regulatory Alerts2019-06-11
Licence Conditions for Crowdfunding Platforms
The Isle of Man Financial Services Authority imposes specific licence conditions on Class 6 regulated activities to regulate crowdfunding platforms. These rules prohibit unauthorized secondary trading and advice while mandating strict website disclosures, client categorization based on net worth, and daily monitoring of postings for market abuse. Additionally, the document enforces rigorous integrity checks for borrowers, mandatory minimum content for crowdfunding postings, and specific capital adequacy reporting requirements for licensees.
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