The Financial Conduct Authority has said tighter controls on crowdfunding platforms are required to protect investors from “complex and often unclear” offerings. The FCA is also worried that some firms have inadequate plans to wind down their loan books following a failure. Around one in five crowdfunded businesses fail and only 22% of investors realise a return through a sale or exit. However, the UK Crowdfunding Association (UKCFA) said it had already asked for regulation and for stronger enforcement of the existing rules but the FCA’s failure to provide this had resulted in the sector “reporting on itself”.