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Peer2Peer Finance News | May 26, 2019

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Financial Conduct Authority

Treasury launches probe into collapse of London Capital & Finance

May 23, 2019 |

AN INDEPENDENT probe has been launched into the Financial Conduct Authority’s (FCA) supervision of London Capital & Finance (LC&F) and the circumstances surrounding the mini-bond provider’s collapse.

The Treasury said on Thursday that there will also be a wider policy … Read More

Five ways the private and public sector is supporting non-bank lenders

May 17, 2019 |

FROM the Bank of England’s quantitative easing scheme to Help to Buy Equity loans, sometimes it seems as if mainstream lenders are getting more support than those in the alternative finance space.

Banks have benefited from more liquidity being created … Read More

City watchdog rejects Mintos application

May 13, 2019 |

LATVIA-HEADQUARTERED peer-to-peer lender Mintos has been refused regulatory approval in the UK, three years after its initial application.

The Financial Conduct Authority (FCA) said that it was not satisfied that the platform had the appropriate resources to implement its proposed … 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

City watchdog tells consumers to think carefully before IFISA investing

April 1, 2019 |

THE FINANCIAL Conduct Authority said it has seen evidence that Innovative Finance ISAs (IFISA) are being promoted alongside cash ISAs and has urged consumers to “carefully consider where their money is being invested” before purchasing the “high risk” product.

“Investments … 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

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

Worries mount over P2P promotion crackdown

February 7, 2019 |

LEGAL experts have expressed concerns that the Financial Conduct Authority (FCA) may lump peer-to-peer lending in with riskier investment products as part of its crackdown on promotions.

The City watchdog sent a ‘Dear CEO’ letter to all regulated firms last … 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