News Briefing - Crowdfunding, SME And Alternative Finance

Construction workers eat lunch 200 feet up in the air.

1. UK – AltFi / EIS

 

The Telegraph on an EIS company facing difficulties. Oxford Capital was named EIS Fund Manager of the Year in 2013 and 2014, but had made some staff redundant earlier this year. Now it seems many of their investments may have no in value.

2. UK – AltFi / EIS

 

Elsewhere the Mail On Sunday reports on a fraud probe at a firm of accountants that introduced investors to EIS ventures. 

3. UK – AltFi

The Financial Services Compensation Scheme may offer cover to some LCF bond investors. The Times and others report.

4. UK – P2P

 

AltFi News runs a feature interview with a RateSetter executive on the need for better loan performance data.

 

5. UK – P2P/IFISA

 

Peer2Peer Finance News reports:

“The Innovative Finance ISA (IFISA) looks set  to become a billion-pound product, exclusive data reveals.

Figures provided to Peer2Peer Finance Newsfrom the Tax Incentivised Savings Association (TISA) show the tax wrapper has been growing in popularity since a slow start in its first tax year of 2016/2017 and as of May had attracted £764m since April 2016.

There was £52.7m of inflows reported at the start of the current tax year alone. The billion-pound boost will be welcome news at a time that the industry has faced negative press and regulatory scrutiny.

The collapse of property P2P platform Lendy has led some to question the safety of the sector, while the Financial Conduct Authority announced last month that it was pressing ahead with marketing restrictions and appropriateness tests, to be introduced from December.

Tisa’s data is based on 90 per cent of the IFISA market and includes figures reported on a monthly basis by big names such as Zopa, Assetz Capital and RateSetter.”

6. UK – FinTech

Crowdfund Insider reports:

“Last April, the first securities issued on blockchain was part of a test on the London Stock Exchange (LSE) – one of the largest exchanges in the world.

20/30, a Fintech that has been part of the Financial Conduct Authority’s (FCA) Fintech Sandbox, issued around £3 million in tokenized equity, settling on the LSE’s Turquoise platform, described as a test environment. The test was an important step towards the future of digital assets which are regulated securities.

20/30 is an interesting company with a diverse group of portfolio of subsidiaries. The company’s constituent parts include:

  • TokenFactory – a security token issuance platform
  • ID Works – KYC which is easy to port
  • Asset Management – an advisory and fund services that will introduce a curated investment approach to a highly technical sector
  • Pillar – a crypto and wallet which is “developing a decentralised solution for data management.”