Futsci is a member of the UK Crowdfunding Association
As a member of UKCFA we abide by their code of practice:
Code of Practice
These principles are designed to work across a range of businesses, some of which are FCA authorised and some of which are outside the scope of regulation. All UK Crowdfunding Association’s members agree that the principles laid out in the Code are important for both business and individuals. Adherence to these principles is a requirement of membership of the UK Crowdfunding Association. Each of these principles applies to each UK Crowdfunding Association member in respect of its investors or donors.
- Investments and donations will be kept separate from our business, in client accounts or similar segregated money-handling structures.
- We will ensure transparency so that at all times investors or donors can see information on their money; including where it is kept, amount and transactions.
- We will put in place processes to ensure that our investor and donor information is kept safe and secure and that it can still be accessed in the event that we cease to operate.
- We will also put in place processes to ensure that holdings of investments can continue to be accessed in the event that we cease to operate.
- We agree to provide a cooling off period in case our investors or donors change their mind after making an investment or donation.
- Our terms and conditions will be clearly written and will explain exactly how the investment process works, what our duties and responsibilities are, what due diligence has been undertaken, and what fees and charges will apply and when.
- We will hire competent, professional, honest people and make sure we have the right systems and processes to run our businesses safely. Our Executive Directors’ details will be published on the UK Crowdfunding Association website.
- We will ensure that our IT systems and business processes are secure, reliable and proportionate to the nature, scale and complexity of our business and are sufficiently robust to facilitate compliance with applicable law, regulations and this Code of Conduct.
- We will comply with the laws and regulations applicable to our sales and marketing activity, and ensure that all UK Crowdfunding Association members’ communications are fair, clear and not misleading, that risks and potential returns are presented in a balanced way and that investors and donors are treated fairly.
- If investors or donors are unhappy about any aspect of a member’s service, they will be able to complain and we will publish our performance on complaints on the UK Crowdfunding Association website every year.
For more information please visit their website at http://www.ukcfa.org.uk/