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Peer2Peer Finance News | May 27, 2019

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FCA

FSCS considers compensation for investors in failed mini-bond firm

May 10, 2019 |

THE Financial Services Compensation Scheme (FSCS) has urged customers of collapsed mini-bond provider London Capital & Finance (LCF) to register for updates as it looks at whether there are grounds for compensation.

The FSCS says it wants to keep customers … Read More

FCA register confirms restrictions on Lendy’s activities

April 24, 2019 |

RUMOURS of restrictions on Lendy’s regulated activities have been confirmed by the Financial Conduct Authority (FCA).

An update to the City watchdog’s financial services register shows that it has imposed an asset restriction on the peer-to-peer property lending platform.

The … Read More

P2P lenders set to pay higher fees to City watchdog

April 23, 2019 |

PEER-TO-PEER lenders could see their regulatory fees increase by at least two per cent.

The Financial Conduct Authority (FCA) has released a consultation on its annual funding requirement for 2019/2020, revealing that it will need £558.5m from all regulated firms.

Read More

Industry hits back as FCA warns on IFISA risk

April 2, 2019 |

THE PEER-TO-PEER lending industry has hit back at a warning from the financial regulator to consumers about the risks of the Innovative Finance ISA (IFISA).

The Financial Conduct Authority (FCA) said it has seen evidence that IFISAs are being promoted … Read More

Mini-bond provider collapse highlights safety of P2P, says Orca Money

March 21, 2019 |

THE COLLAPSE of mini bonds provider London Capital & Finance (LCF) shows the dangers of chasing high interest rates while highlighting the relative stability of peer-to-peer lending, says Orca Money.

The P2P investment aggregator’s chief executive Iain Niblock (pictured) said … Read More

FCA mulls exit fee ban amid platform consultation

March 14, 2019 |

THE FINANCIAL Conduct Authority (FCA) is considering a ban or a cap on exit fees, as part of a new package of measures designed to make it easier for consumers to switch investment platforms.

Some of these measures include a … Read More

Scale and pace of fintech growth could put financial system at risk

March 4, 2019 |

THE FINTECH sector should brace itself for a new wave of regulatory scrutiny this year due to concerns of harm to consumers and the financial system, a new report has warned.

KPMG UK research, published on Monday, highlighted a number … Read More

JustUs gears up to enter P2P mortgage market

February 26, 2019 |

JUSTUS has embarked on a £4.5m fundraising campaign, as it prepares to expand its lending into residential owner-occupied mortgages.

The peer-to-peer lender, which already provides bridging and buy-to-let loans, is offering equity in its own platform and will use some of … Read More

FCA names new head of Financial Services Consumer Panel

February 19, 2019 |

THE FINANCIAL Conduct Authority (FCA) has named Wanda Goldwag (pictured) as the new chair of its Financial Services Consumer Panel.

She takes the role on 1 March for an initial three-year term.

Goldwag is currently chair of the Office of … Read More

Crypto and bond scams singled out as fraud losses hit £197m

February 6, 2019 |

THE FINANCIAL Conduct Authority (FCA) has revealed that £197m was lost through investment fraud in 2018, with cryptocurrency and bond scams among the most common.

According to new data from Action Fraud, a total of 85 per cent of last … Read More