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Peer2Peer Finance News | July 23, 2019

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Financial Conduct Authority

Ablrate unveils platform plans ahead of regulatory reforms

July 23, 2019 |

ABLRATE investors can now ‘follow’ loans they are not invested in, as part of a range of changes unveiled by the asset-backed lender to prepare for incoming regulations.

Previously, customers only received updates on loans they had invested in, but … Read More

What will the appropriateness test actually look like?

July 17, 2019 |

IT’S OFFICIAL – the Financial Conduct Authority (FCA) will soon make it mandatory for all peer-to-peer platforms to introduce an “appropriateness test” for new investors.

The purpose of the test will be to weed out any unsuitable lenders, and any … Read More

FCA misconduct probes into retail financial services firms increase by a third

July 10, 2019 |

THE NUMBER of Financial Conduct Authority (FCA) cases opened into misconduct in retail financial services has increased by 29 per cent in the past year.

The number of cases has increased to 101 for the 12 months ended 31 March, … Read More

Three quarters of P2P property investors unsure of risks

July 9, 2019 |

THREE out of four investors on peer-to-peer property lending platforms are confused about the risks involved with the loans they invest in, according to a study from Fitzrovia Finance.

The study found that 75 per cent of investors who use … Read More

JustUs courts advisory sector to back P2P residential mortgages

July 3, 2019 |

JUSTUS is calling on family offices, discretionary funds and financial advisers to help back its impending peer-to-peer residential mortgage product launch.

The P2P lender has invited these groups to register their interest so they can offer the investments to their … Read More

Ablrate: Fair pricing measures not ‘silver bullet for due diligence’

June 27, 2019 |

ABLRATE has heralded the City watchdog’s tighter rules on fair loan pricing but warned that investors should not see price as “a silver bullet for due diligence”.

The Financial Conduct Authority released its updated regulations on peer-to-peer lending earlier this … Read More

FCA launches review of credit information market

June 27, 2019 |

THE FINANCIAL Conduct Authority (FCA) has launched a market study on the credit information sector amid concerns over how it helps and hinders borrowers from getting loans.

The City watchdog said it will focus on the purpose, quality and accessibility … Read More

Ex City minister calls for review into Lendy collapse

June 25, 2019 |

FORMER City minister Lord Myners has called for an independent review into the Financial Conduct Authority’s (FCA) supervision of collapsed peer-to-peer lending platform Lendy.

The property lender went into administration in May after months of concerns about mounting levels of arrears.

Read More

JustUs set to launch home finance products after regulatory green light

June 7, 2019 |

JUSTUS is planning to launch residential owner-occupied mortgage products within the next three months, after a rule change came into effect this week.

In its long-awaited final rules on the sector, the Financial Conduct Authority confirmed that peer-to-peer lenders would … 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