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Peer2Peer Finance News | August 18, 2017

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Financial Conduct Authority

ThinCats gains FCA approval, paving way for IFISA launch

August 8, 2017 |

THINCATS has received full authorisation from the Financial Conduct Authority, paving the way for the launch of its Innovative Finance ISA.

The peer-to-peer business lender announced the news on Tuesday and said it is planning to launch its tax-free wrapper, … Read More

Playing by the rules

August 4, 2017 |

The peer-to-peer lending industry is waiting with baited breath for the reg­ulator’s full report from its review into the sector. Will its outcome herald a new era for P2P, or just new hurdles to overcome?

It is often said that … Read More

RateSetter-backed lender acquired by Non-Standard Finance

August 3, 2017 |

RATESETTER investors are likely to get repaid early by George Banco following the acquisition of the guarantor loans provider by Non-Standard Finance.

The peer-to-peer platform took a minority stake in former wholesale lending partner George Banco in May but it … Read More

FCA extends credit assessment rules for P2P platforms

July 31, 2017 |

THE FINANCIAL Conduct Authority (FCA) is proposing widening the scope of affordability assessments for peer-to-peer platforms as part of a wider review of the high-cost credit sector.

A consultation released by the City watchdog on Monday morning said there was … Read More

Lendy makes changes to satiate City regulator

July 10, 2017 |

LENDY will no longer service interest payments on overdue loans from its own balance sheet, as one of a slew of changes the peer-to-peer property lender is making to meet the City watchdog’s requirements.

The platform, which recently rebranded itself … Read More

FCA applications have cost the P2P sector up to £2m

July 5, 2017 |

THE FINANCIAL Conduct Authority (FCA) has pocketed up to £2m from full authorisation of the peer-to-peer lending sector, figures suggest.

A freedom of information request by Peer2Peer Finance News shows that the City watchdog has considered 146 applications for full … Read More

RateSetter decides not to lend to George Banco’s customers

June 2, 2017 |

RATESETTER has announced that it has decided not to lend directly to George Banco’s customers as there are “better uses of our development resources”.

The ‘big three’ peer-to-peer lender bought a stake in the guarantor loan provider, which was a … Read More

Wellesley puts P2P product on “pause” and boosts transparency

May 26, 2017 |

WELLESLEY & Co is putting its peer-to-peer lending activities on “pause” and has published details of its loan book for the first time, as it works towards gaining full authorisation from the Financial Conduct Authority (FCA).

From 31 May, the … Read More

Funding Circle gains FCA approval

May 24, 2017 |

FUNDING Circle has become fully authorised by the Financial Conduct Authority (FCA), paving the way for the launch of its Innovative Finance ISA (IFISA).

The platform, which became the UK’s largest peer-to-peer lender in terms of cumulative lending after surpassing … Read More

Ireland’s Linked Finance gains FCA approval

May 22, 2017 |

IRISH peer-to-peer lender Linked Finance has gained full authorisation from the UK’s Financial Conduct Authority (FCA).

The green light from the City watchdog means that Linked Finance could now apply to HMRC for ISA manager status, in order to … Read More