CIC Association

Serving Community Enterprise

Our solicitors have put a fairly rigid millstone around our fundraising neck with their interpretation of the restrictions on offering our shares to the "public"

 

Being fairly new to CICs the definition of what constitutes "the public" seems to be vague. Can anyone offer some better guidance as to how far we can go in advertising the opportunity to invest?

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Hi Paul

its mainly due to restrictions placed under the FSMA (financial services and markets act). It does depend on your own individual plans, and theres definitely a few members who can help.

One thought is instead marketing the offer of shares, you might instead ask people to register their interest in receiving information, this means your not actually marketing the details, but can still gather a group of individuals who might be interested in investing. You can then send them the information direct and not break any rules (this is a smple and unqualified statment that is an opinion not advice)

Feel free to give me a call on 0203 262 3044 to have a quick chat, i can put you in touch with different members depending on what exactly it is your up to.

best regards

John
Thanks John I will call tomorrow.

So could we put an ad in the local paper for example saying "Register your interest??" - it's this pushing of the boundaries of advertising that interests me. We are a semi pro soccer club by the way.

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