Slightly Mad stops accepting funds for Project CARS per deal with UK’s Financial Conduct Authority

By Stephany Nunneley
25 July 2013 16:32 GMT

Slightly Mad Studios has stopped taking crowdfunding funds for Project CARS after UK’s financial services watchdog, Financial Conduct Authority, has intervened on the matter.

The project’s crowdfunding initiative called World of Mass Development would give those who donated funds a share of the profits; however, the Financial Conduct Authority investigated the financial plan and now those who backed the game will be refunded should they wish to no longer be involved.

If those who ask are given the full refund, they will no longer be able to access new builds of the title, nor will they receive any profits gleaned from its sale, obviously.

Slightly Mad Studios has changed how it will operate its World of Mass Development scheme in the future, “so as to avoid it being considered a collective investment scheme.”

The firm raised €2,328,685 for the development of Project CARS as of December 2012 when it stopped taking funds. as of this post, the funding now stands at €2,298,970, and we can only assume the €29,715 difference is due to refunds.

Project CARS will release in 2014 on PC, PS3, Wii U and Xbox 360.

Thanks, Eurogamer.

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