Launching Your Platform

Previous steps

Before you can launch your new platform, you will need to have completed the following steps:

You have read the Compliance Manual and have contacted ShareIn to address any questions you might have
You have submitted to ShareIn all materials needed to assess and confirm your fitness and propriety as an FCA Approved Person
Your application to the FCA has been submitted and is either approved or pending
You’ve completed “Introduction to Compliance” training, including any required quizzes/assessments, and have completed or are nearing completion of Financial Promotions training
You have reviewed and filled in the Product Development Worksheet as necessary for all product types on your platform
You have logged any Conflicts of Interest and have a plan in place to eliminate or remediate them
You have reported any Introducer relationships and have systems and controls in place to manage these relationships

Congratulations!

Now that you have made it through all those steps, you’re nearly ready for the launch of your platform. Here’s what you will need to prepare for “go live”.

Compliance review of your financial promotions

Background and Legislation

As you learned in Financial Promotions training, Compliance must review your website and will work with you to ensure it meets requirements. Allow up to 10 working days for a complete review and approval.

Your first offer

Once your offer is ready, please allow 5 - 7 working days for ShareIn Compliance to check

  • The offer document and any accompanying sales aids
  • The website description of the offer
  • The evidence you provide for the due diligence you’ve carried out

Your marketing campaign

You’ll want to promote the launch of your platform and first offer. Compliance will need to review and approve any and all advertisements or marketing messages, no matter the channel of distribution. That includes (but is not limited to):

  • Email announcements or newsletters
  • Tweets
  • LinkedIn posts
  • Facebook or Google adverts
  • Blog posts

Documenting your systems and controls

Recordkeeping

Make sure ShareIn have a copy of your Conflicts of Interest log and remediation plan; copies of contracts with Introducers or other material third-parties; final version of your Product Governance worksheet(s).

Telephone and meeting recording

Will you have conversations with clients that are intended to result in the performance of a transaction? If yes, you need to put in place a system for recording these discussions and keeping them for 5 years. This needs to be operational before your first call or meeting takes place, so don’t delay in getting a provider.

Personal data protection

Your crowdfunding platform has been designed to meet the standards required by the DPA/GDPR, but you are a data controller and have requirements to safeguard investor and prospect personal data, including any marketing databases you hold. If you are not sure whether you are in compliance with the latest data protection rules, speak to a legal advisor now.