The UK is missing out on “a significant source of sustainable economic growth” that could help small businesses and boost nation-wide economic growth, according to an industry body.
In a letter from the UK Crowdfunding Association, its chair and director, Bruce Davis, told City Minister Tulip Siddiq that the Financial Conduct Authority's over-regulation and its approach to crowdfunding for small- and medium-sized businesses has resulted in £50-150bn of "lost investment" in UK companies. The last five years have seen "an unprecedented pace of regulatory change", according to Davis, with the UK now one of the most highly regulated markets in the world for crowdfunding investment. "The impact of these changes has been felt in the increase in marketing costs for ne...
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