Gonçalo de Vasconcelos, founder and CEO of the crowdfunding platform the SyndicateRoom, one of the UK’s big three operators, has responded to the crackdown by the FCA announced this week on some of the equity crowdfunding platforms’ standards of behaviour.
He told IFA Magazine: “SyndicateRoom welcomes this week’s action by the FCA to warn those equity crowdfunding platforms that are not being clear about risks, hiding information that enables customers to assess risk, etc to raise their standards of behaviour.
“SyndicateRoom is proud to be one of the leading platforms in this dynamic new sector and can confirm that it is NOT one of the offending platforms. It is crucial for investors and the reputation of the sector that those companies that have been misleading customers take immediate steps to improve their openness and honesty.
“Sadly these shortfalls in the behaviour and practices of just a few of the platforms can hurt the standing a reputation of the whole zone, which is both unfair and unhelpful to everyone concerned, including investors.”