Knowledge Base: Can I skip elements of an investors onboarding?

It is possible to drop one or more of the following onboarding steps on a per-investor basis:

• Suppress an investor signing the NDA; and / or
• The FCA disclaimer; and / or
• The Term Sheet.

Please log a support ticket detailing the email address of the individual and details of what documents you would like removed once they have been invited to the FounderCatalyst platform and we will do this for you.

We can also suppress one or all of these documents for everyone in a funding round - again, if required please log a support ticket.

Special note on the FCA disclaimer: Technically, we need to ask these questions on your behalf or it’s a potential breach of the revised Financial Promotion regulations which came into force 31st Jan 2024 – you can read more here

This isn’t in any way related to SEIS or EIS, you have this obligation if people invest outside of these schemes too. And it’s very certainly not a FounderCatalyst specific requirement.

We have followed advice from the UK British Angel Association and their legal counsel when implementing the new legislation and your investors should only invest if they meet some of the criteria offered under the High Net Worth or Self-Certified Sophisticated Investor statements (see Schedule 1 & 2 in the above link to see this criteria).

To qualify as a High Net Work Individual, an investor needs to declare either condition A or B on that form. To qualify as a Self-Certified Sophisticated Investor, they need to declare either Condition A, B or C in Schedule 1 and 2 of the legislation accordingly. Those are the only two options available under the legislation.

Ultimately we implement this FCA process as a protection for you as a founder rather than us as a platform and if you believe that the platform is incorrect, we can drop the FCA signing requirement if you wish.