We are kicking the new year off with our first Euro/Pound Platform and have recently been approved as an Innovative Finance ISA manager.
We are thrilled to announce that received approval late in December from HM Revenue & Customs (HMRC) to operate as an Innovative Finance ISA manager. In November 2016 it became possible to hold bonds facilitated by fully-authorised platforms in Innovative Finance ISA (IFISA) wrappers. Prior to this the IF ISA had been only for peer-to-peer loans.
Currently only a handful of platforms are authorised to operate as IF ISA managers. We are very pleased to be able to allow our clients to offer Bonds in an IF ISA.
The Financial Conduct Authority (FCA) published an interim feedback statement at the start of December highlighting that the IF ISA is likely to appeal to a significant number of investors.
In addition to adding IF ISA functionality to the platform we have now enabled investments in Euros. The first joint Euro/Pound platform is now live here www.mercycrowd.com.
Offering our product to a European market is a fantastic milestone for us and something we’re really proud of! Internationalisation has been on our roadmap and we’re very excited about the launch of our first Euro site.
You can find out more about our IF ISA manager service here.