Recently, an investigation by the Financial Conduct Authority (FCA) has revealed that a platform called PRS Platform has made misleading claims in a £470k funding pitch. The FCA found that PRS Platform had made false and misleading statements about the performance of its investments, which were used to attract potential investors.
PRS Platform is a platform that provides access to investments in private companies and funds. It had pitched to potential investors in April 2020, claiming that its investments had achieved returns of up to 40% over the previous three years. However, the FCA’s investigation found that the returns were actually much lower than this figure.
The FCA has now ordered PRS Platform to pay a fine of £470,000 for making misleading statements in its pitch. The FCA has also taken steps to ensure that PRS Platform will not be able to make any further misleading claims in the future.
This case serves as a reminder to investors to always be wary of any claims made by companies or platforms when it comes to investments. It is important to do your own research and due diligence before investing in any product or service. It is also important to remember that past performance is not necessarily indicative of future performance, and that investments can go down as well as up.
The FCA’s investigation into PRS Platform serves as a warning to other companies and platforms that they should not make false or misleading statements when pitching their products or services. This case highlights the importance of transparency and honesty when it comes to investments, and should serve as a reminder to investors to always be vigilant when considering any investment opportunity.