As a part of our licence and under the Financial Markets Conduct Act 2013 (Act) and the Regulations under the Act, The Property Crowd is required to have in place a fair dealing policy.
Please read the following carefully as it constitutes The Property Crowd's Fair Dealing Policy and is in effect from 4 May 2016.
The Property Crowd (TPC) has established processes and procedures to identify the suitability of an investment property (put forward by Property Management Companies) on our platform.
These are used to determine if we will allow a particular property to be funded on our platform.
To place an investment property on the platform, the Property Management Company (PMC) must provide to TPC all information which TPC requires in order to assess the suitability of the investment property.
The Property Crowd retains absolute discretion in any determining the suitability of the investment property.
The Property Crowd reserves the right at any time to:
where The Property Crowd has information, believes or has cause to believe that the vendor of the investment property, or the PMC (including those it has engaged to assess the investment property) has, in registering to use The Property Crowd's service, or where using The Property Crowd's service:
TPC implements its Fair Dealing Policy with a combination of automated and manual checks. These checks include Veda reporting checks and AML compliant identification. If we discover any information which is not consistent with the information provided to us by or on behalf of the potential investor, we will either decline or seek clarification by manual review by TPC staff.
Ultimately if we are not satisfied with any information or explanations provided, we will exercise our discretion to not register the property and / or the PMC.
TPC's customer service staff are trained to identify deceptive and misleading conduct and report it to TPC's management for investigation. Any anomalous investment behaviour will be flagged for further investigation by TPC to ensure appropriate verification is completed and (where appropriate) the conduct will be reported to the relevant authorities.
The Property Crowd does not actively monitor all information available to investors when an investment property is offered on the platform. Information may not be complete or accurate at the time a potential investor views that information. The Property Crowd is not responsible for the completeness or accuracy of such information.