Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions her Department has had with the Financial Conduct Authority regarding the regulation of equity crowdfunding schemes such as the Equity for Punks programme operated by BrewDog.

The Government has regular conversations with the Financial Conduct Authority (FCA) on a range of topics, including the regulation of equity crowdfunding.

In 2024, the government delivered the Public Offers and Admissions to Trading Regulations which enabled the Financial Conduct Authority (FCA) to reform the UK Prospectus Regime.This new regime took effect on 19 January 2026, and gives investors access to better quality information to support their investment decisions.

The regulations also created a new regulated activity of operating a Public Offer Platform (POP). Companies seeking to make public offers of securities outside a public market to a broad investor base, where the value exceeds £5 million, will now need to do so via a POP, ensuring investors receive better information about their investments.