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3.3 PFP Prospects

A PFP Prospect must be a Body Corporate. The FSRA is of the view that a PFP would be an inappropriate forum for use by natural persons seeking financing for a business venture for a number of reasons, including:

(a) the inappropriateness of a PFP for the formation of partnerships between individuals; and
(b) the undesirability of posting personal information enabling the clients of a PFP to ascertain the creditworthiness of an individual.

The FSRA is additionally of the view that a PFP would be inappropriate for capitalising ventures at the pre-incorporation stage of their development, given the lack of track record and the limited scope of potential due diligence that may be undertaken.