The comment period wraps up today for a U.K. Financial Conduct Authority (FCA) consultation paper that follows up on rules for crowdfunding adopted in the United Kingdom in 2014.

Among other things, the FCA is considering whether to introduce due diligence requirements in the crowdfunding market. The current regime in the U.K. does not set out specific levels of due diligence for firms operating investment-based crowdfunding platforms.

“We are potentially concerned, however, that this approach may not be working as well as it might,” the FCA consultation paper says. “It appears that some businesses that successfully raise capital fail shortly afterwards. While such failures are likely for the young businesses raising capital on the platforms, we are concerned about the potential for investors to be exposed to risks they are not well placed to assess in advance.”

The FCA intends to analyze the due diligence processes employed by platforms, and the additional analysis undertaken by investors. “If we find that investors are not in a position to protect their own interests, we may consider the feasibility of minimum due diligence standards,” the FCA consultation paper says.

Since the rules for crowdfunding were introduced in 2014, the U.K. market has grown rapidly, the paper says. In 2013, an estimated £500 million was invested through crowdfunding platforms, the paper reports, rising to an estimated £2.7 billion for 2015. There are now over 100 platforms operating in the market or seeking authorization, the paper says.

Most of the crowdfunding activity in the U.K. market is made through loan-based platforms, but equity crowdfunding is also growing fast. In 2013, just £28 million was invested through equity crowdfunding, and in 2015, that was up to £332 million, the paper says.

In the coming months, the FCA will be working with firms to collect evidence on potential risks in the crowdfunding space, and to work on addressing any knowledge gaps that exist. “We will carry out additional research into the market as a whole to inform the review,” the FCA paper says.