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Peer2Peer Finance News | January 17, 2019

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FCA

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

City watchdog delays credit information market study launch

November 28, 2018 |

THE CITY regulator has pushed back the launch of its credit information market study until June 2019.

The Financial Conduct Authority (FCA) had invited views on firms’ access to, and use of, credit information provided by credit reference agencies, as … 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

Treasury pushes back on plans for tighter rules on business lending

November 27, 2018 |

PROPOSALS for more stringent corporate lending regulations are being met with resistance by the Treasury, Peer2Peer Finance News has learnt.

A recent report issued by the Treasury select committee of MPs called for business lending to be brought within “the regulatory perimeter” … Read More

FCA hails positive impact of P2P regulation for cryptos

November 19, 2018 |

THE Financial Conduct Authority’s (FCA) director of strategy and competition has cited peer-to-peer lending regulation as a benchmark for its approach to cryptoassets.

Speaking at the LendIt Fintech conference in London, Chris Woolard (pictured) said the FCA wants the UK … Read More

FCA director calls for culture change among consumer lenders

November 2, 2018 |

CONSUMER lenders must create a healthy culture for both employees and borrowers, a director at the City watchdog has said.

Speaking at Consumer Credit Trade Association Conference in Nottingham, Jonathan Davidson (pictured), director of supervision – retail and authorisations at … Read More

Payday lenders could use Open Banking to allay watchdog’s concerns

November 2, 2018 |

OPEN Banking could help assuage the regulator’s concerns about short-term lenders’ credit assessments, a peer-to-peer finance executive has claimed.

Amer Bhatti, chief compliance officer of P2P payday lender Welendus, thinks that the new data-sharing initiative could help address the issues … Read More

Crypto-P2P platforms face tighter anti-money laundering rules

October 30, 2018 |

CRYPTO-BACKED peer-to-peer lending platforms could face more stringent anti-money laundering (AML) regulations, as the government mulls transferring compliance oversight to the City watchdog.

The government’s cryptoassets taskforce, which consists of the Treasury, the Financial Conduct Authority (FCA) and the Bank … Read More

P2P sector queries data used to justify tabled investor restrictions

October 29, 2018 |

PEER-TO-PEER lending industry stakeholders have criticised the interpretation of data used by the City watchdog to justify proposed investor marketing restrictions.

The industry gathered at a Peer-to-Peer Finance Association (P2PFA) event held in London last Wednesday, to discuss the Financial Conduct … Read More

Investors and platforms uneasy over Lendy loanbook

October 23, 2018 |

LENDY investors have been thrown into disarray amid a legal dispute with a borrower and high levels of arrears on the platform.

One of the peer-to-peer property lender’s borrowers is threatening to sue both the platform and its investors for … Read More