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Peer2Peer Finance News | June 18, 2018

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Financial Conduct Authority

Rebuildingsociety boss takes helm at InvestUp

June 18, 2018 |

PEER-TO-PEER investment aggregrator InvestUp has installed Rebuildingsociety boss Daniel Rajkumar as temporary chief executive while it searches for a replacement for Chris Bradbury who left at the end of 2017.

InvestUp was purchased by the White Label Company – owned … Read More

How the big three shaped P2P

June 15, 2018 |

ALTHOUGH we still tend to think of peer-to-peer lending as a young sector, it is now 13 years since Zopa became the first lender in the market. It was joined five years later by Funding Circle and RateSetter and since … Read More

P2P lenders may face higher bill from City watchdog

June 7, 2018 |

PEER-TO-PEER lenders are likely to see their regulatory fees increase this year.

The Financial Conduct Authority (FCA) decides how much its annual regulatory fees will be every June, following a consultation in March.

The FCA said in March that its … Read More

P2P lenders show there’s life outside London

June 4, 2018 |

LONDON might be the financial capital of Europe but the peer-to-peer lending sector is showing that there is life beyond the UK’s biggest city.

P2P lenders headquartered around the UK’s regions are demonstrating impressive growth, while helping create employment in … Read More

Consumer credit made up the bulk of financial complaints last year

May 30, 2018 |

THE FINANCIAL Ombudsman Service (FOS) upheld six in 10 complaints about consumer credit last year, the regulatory disputes body has revealed.

The FOS annual report for 2017/2018 found consumer credit products, which includes some peer-to-peer lending as well as payment … Read More

FCA issues warning about Funding Circle clone

April 11, 2018 |

THE CITY watchdog has issued a warning to consumers about a clone of peer-to-peer lender Funding Circle.

The clone, Funding Circle Loans, had set up a website purporting to be the P2P platform.

Its website,, has since been suspended.

Read … Read More

FCA reveals it intervened in Collateral administration to protect investors

April 4, 2018 |

THE FINANCIAL Conduct Authority (FCA) has revealed that it intervened in the administration of Collateral because the peer-to-peer lender failed to seek its approval when it appointed an insolvency practitioner.

Wigan-based Refresh Recovery was selected by Collateral when the company … Read More

FCA warns mid-cost consumer lenders could be ‘overwhelmed by demand’

March 20, 2018 |

THE UK financial regulator is throwing its weight behind growing the mid-cost segment of the consumer lending market, after a senior executive warned that cheaper providers of debt are at risk of being “overwhelmed by demand”.

Christopher Woolard (pictured), executive … Read More

Lenders warned against selling products to vulnerable consumers

March 15, 2018 |

THE FINANCIAL Conduct Authority (FCA) has warned lenders that it will take action against firms who sell products to vulnerable consumers.

In a speech to the Credit Summit on Thursday, Jonathan Davidson, executive director of supervision – retail and authorisations … Read More

P2P lender Collateral goes into administration

March 1, 2018 |

COLLATERAL has purportedly gone in to administration, after it emerged that it was operating without the correct regulatory permissions.

The Manchester-based peer-to-peer lender has been uncontactable since it shut down its website on Monday.

A letter seen by Peer2Peer Finance … Read More