Introduction: PS23/6 and Your Cryptoasset Strategy
The FCA’s Policy Statement PS23/6 has reshaped the rules for marketing cryptoassets in the UK. Whether you’re a SEIS or EIS startup, this change matters. It touches every leaflet, blog post and pitch deck aimed at retail audiences. For UK high net worth investors in particular, the new regime offers pathways and pitfalls you need to understand.
In this article we unpack what PS23/6 covers, who’s exempt, and how you can stay compliant while still engaging with UK high net worth investors. We’ll outline practical steps, highlight the exemptions for sophisticated and high net worth individuals, and show you how to leverage Oriel IPO’s commission-free platform to reach your ideal backers. Revolutionising investment opportunities for UK high net worth investors
Scope and Applicability of PS23/6
Under PS23/6, all firms marketing cryptoassets to UK consumers must follow the financial promotion regime. That applies whether you’re based in London or overseas. No more piecemeal outreach. If a person in the UK sees your ad or tweet, you need FCA approval or an exemption.
Key points:
- Cryptoassets now fall squarely under financial promotions rules.
- Promotions include blogs, social posts, emails, whitepapers.
- Retail audiences must see clear risk warnings; otherwise it’s a breach.
- Penalties include enforcement action, fines and reputational damage.
At its core, PS23/6 aims to protect everyday consumers. Retail investors have faced scams and volatility. The FCA wants to ensure that people know they might lose everything. As a startup, you must integrate risk statements and keep records. More on that soon.
Exemptions Relevant to SEIS/EIS Startups
Not everything is a headache. PS23/6 provides exemptions where you can market without full FCA authorisation. For many SEIS and EIS startups, these carve-outs are a game-changer.
The main exemptions:
- Certified High Net Worth Individuals: Those with an annual income over £100,000 or net assets above £250,000 can qualify. You’ll need a certificate.
- Self-Certified Sophisticated Investors: Individuals who have invested £10,000+ in unlisted companies in each of the last two years, or who work in finance.
- Certified Sophisticated Investors: Advisory firms, such as those authorised by the FCA, can certify these investors.
- Professional Clients: Firms or large bodies that meet quantitative tests under MiFID.
For SEIS-qualifying startups, securing investment from high net worth backers is key. SEIS tax relief means investors can claim up to 50% income tax relief on investments of up to £100,000 per tax year.
Understand SEIS tax relief
Similarly, the EIS scheme offers 30% income tax relief on investments up to £1 million, plus exemptions on capital gains if held for three years.
Explore EIS opportunities
These incentives dovetail nicely with PS23/6 exemptions. By focusing on certified investors, you can run promotions without full authorisation—but you must keep your paperwork in order.
Impact on Marketing and Fundraising
So, how does PS23/6 alter your day-to-day fundraising campaign? For SEIS and EIS startups, think of it as a checklist you cannot ignore:
- Risk Warnings
· Must be “clear, fair and not misleading”
· Prominent placement on every material - Approvals or Exemptions
· Secure FCA approval or rely on one of the exemptions above - Record-Keeping
· Archive all promotion copies, risk statements and certificates - Training
· Ensure your team knows the rules and can spot unauthorised promotion
Miss one of these steps and you risk enforcement action. But the upside is huge. Compliant startups build trust. And trust draws in UK high net worth investors who appreciate transparency.
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Revolutionising investment opportunities in the UK for high net worth investors
Practical Steps for Compliance
Getting PS23/6 right need not be painful. Here’s a simple roadmap:
- Draft a standard risk warning template.
- Classify each investor you target (certified, self-certified, professional).
- Obtain and store certificates for high net worth backers.
- Submit any necessary FCA applications early.
- Label all digital content with a version number and date.
Tools and support can help. Oriel IPO offers a central hub where you can track investor certificates, host promo materials and even schedule updates. Think of it as your compliance control room—commission-free, subscription-driven and tailored to SEIS/EIS rules.
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Accountants and advisers also find value here. You can guide clients through PS23/6, manage certificates and reduce admin friction.
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Leveraging Oriel IPO for SEIS/EIS Cryptoasset Promotions
Now for the practical bit. How do you marry PS23/6 compliance with a thriving fundraising campaign on Oriel IPO?
- Use our curated marketplace to present your pitch alongside clear risk statements.
- Highlight your SEIS or EIS status front and centre.
- Direct certified high net worth and sophisticated investors to dedicated sections.
- Benefit from built-in vetting: we check eligibility criteria so you can focus on growth.
Oriel IPO’s platform helps uncover the right audience. When you need to engage UK high net worth investors who understand cryptoasset risks and tax perks, our hub delivers. And because we operate on a subscription basis, you keep more of the capital you raise.
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Conclusion
PS23/6 has set a new standard for cryptoasset promotions in the UK. For SEIS and EIS startups, it’s both a challenge and an opportunity. By following the exemptions, embedding clear risk warnings and leveraging Oriel IPO’s commission-free platform, you can navigate compliance and still reach the investors who matter.
Stay organised, keep your certificates ready and remember that high net worth individuals value transparency. Use these rules to your advantage. Reach out through Oriel IPO for a streamlined, tax-efficient route to funding.
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