Rebuildingsociety Launches New Service for Approval of Financial Promotions for Crypto-Asset Firms
In an exciting new development, Rebuildingsociety has introduced a specialized service for the approval of financial promotions targeted at crypto-asset firms. Leveraging their expertise as a Network Principal, rebuildingsociety.com has a proven track record of reviewing and approving third-party financial promotions. Additionally, the team possesses an in-depth understanding of the “high-risk investments” (RMMI’s) regime and is well-acquainted with various forms of crypto-assets and their underlying technologies through their sister company, White Label Crowdfunding.
Drawing on their extensive knowledge and experience in these areas, Rebuildingsociety is perfectly positioned to offer this service to crypto-asset firms. While the new regulatory framework is designed to safeguard consumers, the team is confident that they can assist these firms in effectively marketing their products and services in a compliant and appropriate manner.
Having actively contributed to GC23/1, the team, along with their advisors and in collaboration with the UK Crowdfunding Association (UKCFA), aims to shape future regulations in this space.
To commence the process, interested firms are required to undergo an application procedure during which Rebuildingsociety conducts a thorough due diligence assessment. This evaluation encompasses a review of the firm itself, its officers, crypto assets, business model, and preparedness.
Once a decision in principle has been reached and a signed agreement is in place, Rebuildingsociety will guide clients in setting up their operations in line with compliance requirements. This includes establishing an appropriateness test, a dedicated “2 mins to read more” page, customized risk warnings, a cooling-off period for managing Disposal of Funds Prospectus (DOFP), and more.
Furthermore, Rebuildingsociety will conduct a comprehensive review of all existing financial promotions, including the firm’s website, and provide training for the team on the financial promotions regime.
Once onboarded, the team will diligently review and approve the firm’s financial promotions in a timely manner. In instances where necessary, Rebuildingsociety can also offer assistance in dealing with regulatory matters.
According to Daniel Rajkumar, the growing strength of crypto-assets lies in their ability to preserve the sovereignty of the communities they serve, especially in the face of inflation and irresponsible fiscal policies impacting fiat currencies.
Rebuildingsociety’s new service for the approval of financial promotions for crypto-asset firms adds a valuable resource to the industry, enabling compliant and effective marketing strategies.
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