[LondonOpenCoffee] FCA Compliance for Securities

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[LondonOpenCoffee] FCA Compliance for Securities

chencho-2
Hello all,

Would anyone be able to inform me of all the steps and necessary documents/actions to be considered when issuing a security that is FCA-compliant?

For those with some knowledge of blockchain technology, I am wondering how to legally create a token that functions as a security (of the equity type). I know in the US the SEC has been going after some American ICOs for selling tokens that fall under the definition of "security" but are not compliant with the law for that category. With that being said, I'd like to issue a token that is not masked as anything else but explicitly stated as a security and hence do all this formally/legally. Could anyone give me a hand?

Thank you,

Yakko




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Re: [LondonOpenCoffee] FCA Compliance for Securities

chencho-2
Hi Yakko, 

The ICO topic is still unclear in UK, the FCA is still thinking at the matter. 


The most detailed regulations and guide notes till now we're introduced by the Swiss FINMA and the Japanese, both with a lot of help from Cardano foundation.

Have a look at the Cardano papers and notes relating to the matter; where a token stops being a utility and where it becomes a security. They will help you design the token while anticipating the possible regulations scenarios.



On Sun, 6 May 2018, 16:57 Yakko Majuri, <[hidden email]> wrote:
Hello all,

Would anyone be able to inform me of all the steps and necessary documents/actions to be considered when issuing a security that is FCA-compliant?

For those with some knowledge of blockchain technology, I am wondering how to legally create a token that functions as a security (of the equity type). I know in the US the SEC has been going after some American ICOs for selling tokens that fall under the definition of "security" but are not compliant with the law for that category. With that being said, I'd like to issue a token that is not masked as anything else but explicitly stated as a security and hence do all this formally/legally. Could anyone give me a hand?

Thank you,

Yakko




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