The UK should strengthen the rules for promoting high risk financial products such as cryptocurrencies to less qualified investors. According to The Black Crypto Portal, the Financial Conduct Commission (FCA), the British financial regulator, released a plan on Wednesday (19) requiring companies to evaluate investors’ knowledge and financial experience before offering cryptographic products.
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“We want consumers to have access [criptoativos] Emotionally and after being assessed to have sufficient knowledge and experience to understand the risks involved. And according to the North American portal, the rules proposed in the plan are being used to promote investments that are considered high risk.
In such cases, the investment can be traded, but only subject to certain conditions. The website explains that the investor’s classification in terms of experience and financial knowledge levels includes these conditions. In addition, companies need to evaluate whether the product is appropriate for the investor position. The UK organization is waiting until March 23 this year for contributions to the projects, before establishing new rules for the promotion of these investments.
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