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Peer2Peer Finance News | March 21, 2019

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Financial Conduct Authority

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

FCA opens applications for global innovation sandbox

January 31, 2019 |

THE FINANCIAL Conduct Authority (FCA) has invited applications from fintech firms wishing to test new financial products across more than one jurisdiction.

Almost a year after the FCA first suggested the idea for a cross-border innovation sandbox, the Global Financial … Read More

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

Food producer funding platform eyes P2P partners

January 9, 2019 |

A FOOD producer funding platform has expressed interest in partnering with peer-to-peer lending platforms as it looks to scale up the business.

PrimeStox, founded by mining and metals analyst Joseph Cherrez and horticulturist Jenny Louw, lets retail investors support food … Read More

Prodigy targets £400m of originations in 2019

January 3, 2019 |

PRODIGY Finance is targeting $500m (£400m) of loan originations next year, as it looks to diversify its funding sources.

The peer-to-peer lender specialises in offering student loans to people studying outside of their home country, with students typically coming from … 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

Downing extends bond size after prospectus rule change

November 12, 2018 |

CROWD bond platform Downing Crowd has taken advantage of the new higher prospectus limit to extend the size of its most popular bond.

EU prospectus rules mandated companies to issue a prospectus for debt- or equity-based crowdfunding worth more than €5m (£4.4m) and … 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