ASK & DISCUSS INDEX

11 years, 11 months ago - Marlom Tander

http://www.kickstarter.com/help/faq/backer+questions - looks like Amazon is for US projects only.

"Seeking money from the public" is very rule bound in most countries, and that's probably why Amazon is US projects only.

11 years, 10 months ago - Marlom Tander

I used to be involved in Financial Services compliance, and, in one technical area, I actually wrote the rules.

If I was advising a crowd funding platform taking money from UK investors, I'd be very wary indeed. UK rules mean you cannot contract or discliam yourself out of liability.

It might be worth the industry coming up with proposals - the Financial Conduct Authority has a remit to "allow stuff, but keep it safe" and would probably sign off on any sensible industry presentation of a suggested rule set.

Personally I think that clarification will end up focussing on differentiating between "Fun Punt" and "Investment", with something like "You are putting in less than £250. This is a bit of fun and you understand that you will probably lose all your money. It's a fun punt, NOT an investment".

Meanwhile if someone wishes to invest more, the money must be returned to them UNLESS they provide at least a letter stating that they have expertise film / high risk investments and are fully aware of the risks involved. No tick boxing allowed. Make the investor work for it.

I would also say that the text re potential returns be very tough indeed. No revenue models, nothing about possible profits. If you don't talk about returns, then it's hard for your producerish incurable optimism to mislead people :-) Just a statement that "almost all movies result in losses and thus return nothing, or less then the monies invested. This one is unlikely to be any different. Invest because you think it should be made, NOT because you need a financial return. To be frank, if the main sources of film funding thought this film would make a profit, we wouldn't be on this platform asking for your money".

Cheers

11 years, 11 months ago - Louise Marie Cooke

I think if someone really wants to donate, then registering really shouldn't put people off.

11 years, 10 months ago - David Graham Scott

I used Indiegogo and it was very straightforward. All payments went via Paypal and even if the donor didn't have a Paypal account a temporary one could be immediately set up. Very simple and I got my goal.

Cheers

DGS

11 years, 10 months ago - Greg Wielgos

It would put me off and it did in the past, say, I want to donate 5 pounds, but if it takes 20 minutes out of my life and then it turns out it didn't work anyway I'm alreadyy frustrated, and if it asks me for more personal details I already feel like I'm supposed to dontate more than 20 pounds, while the person is going to get only 5!

11 years, 10 months ago - Steve Hope Wynne

Possible concerns of FCA Government regulations upcoming to protect Crowd-funders ie Question over "is it not investment vs is it just a purchase" and where crowdfunding donors may be taken for a ride ?
Until this is settled it may be that larger organisation wish not to become exposed to miss-selling liabilities.
http://www.fsa.gov.uk/consumerinformation/product_news/saving_investments/crowdfunding

11 years, 10 months ago - Mark Towers

Out of curiosity, has anyone tried IndieGoGo donation and is it a lot easier?