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Peer2Peer Finance News | March 26, 2019

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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

FCA opens applications for global innovation sandbox

January 31, 2019 |

THE FINANCIAL Conduct Authority (FCA) has invited applications from fintech firms wishing to test new financial products across more than one jurisdiction.

Almost a year after the FCA first suggested the idea for a cross-border innovation sandbox, the Global Financial … Read More

HMRC warns IFISA providers to stop using e-money services

January 24, 2019 |

HMRC has warned peer-to-peer lenders that they shouldn’t be using e-money providers to hold Innovative Finance ISA (IFISA) money.

An alert from the taxman – which applies to all ISA managers – said it was aware that some providers are … Read More

FCA outlines regulatory approach to cryptoassets

January 23, 2019 |

THE FINANCIAL Conduct Authority (FCA) has launched a consultation outlining its regulatory approach to cryptoassets which could impact peer-to-peer lenders working in this space.

It follows a report from the government’s cryptoassets taskforce last year, which alongside the FCA, said … Read More

FCA sounds warning on P2P promotions

January 10, 2019 |

THE FINANCIAL Conduct Authority (FCA) has signalled it may be concerned about inappropriate sales tactics in peer-to-peer lending.

The City watchdog’s 2019 sector review – which gives an indication of its business focus over the year – included P2P lending … Read More