We are extremely pleased to announce that after (a very long) 27 months from applying, we have finally received our direct authorisations from the FCA.
It’s been a long drawn out and complicated process, partly because of the different types of products we offer (both equity and peer to peer), and partly due to shifting regulatory goal posts.
But we have however now crossed the finishing line – Hurray!
The direct authorisation will give us greater credibility, gives investors greater reassurance and opens up the way for us to grow the company by attracting more funding.
In particular for you, our members, it means we can now start the ball rolling to set up our Innovative Finance ISA which will enable you to invest up to £20,000 a year in our development finance and peer to peer products and earn attractive returns - all in a tax free wrapper.
Getting this set up is now our top priority and we will do our best to have it up and running before April, so that those who want to may transfer funds from any existing ISAs or make use of the annual allowance for 2017-18.
We will keep you updated on progress.
Look out this month for news on our new Auto-Invest product which will be launched to coincide with our new website.
All the best
P.S. BTW we have had a couple of investors now who have managed to invest with us through their pension scheme. If that is something that is of interest to you – please email me.