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Peer2Peer Finance News | August 25, 2019

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Ex-City minister seeks answers on Collateral collapse

July 26, 2019 |

THE GOVERNMENT and the Financial Conduct Authority’s (FCA) role in the regulation of collapsed peer-to-peer lender Collateral has been put under parliamentary scrutiny.

Former City minister Lord Myners – who has already urged the government to help set up independent … Read More

City watchdog signals increased scrutiny of P2P sector

June 28, 2019 |

THE FINANCIAL Conduct Authority (FCA) may take enforcement action over the collapse of Lendy and is considering how to monitor the Innovative Finance ISA (IFISA) market more effectively.

The revelations came out of a Treasury Select Committee hearing with FCA … Read More

Survival of the fittest! Are more P2P platform failures on the way?

June 25, 2019 |

MORE peer-to-peer lending platform closures are being predicted this year due to tightening regulation of the sector.

The industry has already been hit by the high-profile collapses of Collateral and Lendy, but more failures are expected as regulatory changes being … Read More

Does FCA authorisation help to protect investors?

June 6, 2019 |

WHEN Collateral collapsed at the end of February 2018, it quickly emerged that the peer-to-peer lender had been operating without the correct regulatory permissions.

“The company was operating in the belief that it was authorised and regulated by the Financial … Read More

Questions remain as Collateral moves toward liquidation

April 29, 2019 |

COLLATERAL’S administrator is still investigating discrepancies in the valuation of assets and bank account balances as the peer-to-peer lender prepares to be moved into liquidation.

A final report from BDO, which took over the administration of the collapsed platform in … Read More

Collateral damage: What do we know a year on from the platform’s closure?

March 25, 2019 |

IT IS now more than a year since peer-to-peer lender Collateral collapsed, but investors are still waiting to see how much of their money can be recouped.

The Manchester-based platform closed down in February 2018 after it emerged that it had … Read More

Collateral administrator seeks further investor detail on loan exposures

March 19, 2019 |

THE ADMINISTRATOR of collapsed peer-to-peer lender Collateral has written to a ”small number of investors” to seek further clarity on their loans as it continues to reconcile the platform’s loanbook.

BDO, which took over the administration of Collateral last year, … Read More

Collateral administrator unable to provide tax statements for investor returns

January 22, 2019 |

COLLATERAL investors may be unable to disclose how much interest they earned from the defunct peer-to-peer lender for the 2017/2018 tax year as the deadline for returns looms.

A notice from BDO, the administrator for Collateral – which collapsed last … Read More

Collateral administrator seeks investor permission for borrower legal action

January 7, 2019 |

COLLATERAL investors are being asked to give the failed peer-to-peer lending platform’s administrator permission to take enforcement action against borrowers who are unable or unwilling to repay their loans.

The P2P property and pawnbroking platform collapsed last year and its … Read More

Collateral investors still waiting on returns six months into administration

November 27, 2018 |

THE administrator of collapsed peer-to-peer lender Collateral is still unable to estimate the likely returns for investors and creditors six months into the administration.

A progress report from BDO, which is working on the administration of Collateral, revealed it was … Read More