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Peer2Peer Finance News | June 25, 2019

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Confusion surrounds status of Lendy provision fund

June 10, 2019 |

LENDY’S administrators have warned that recovering funds from the defunct platform’s provision fund “is a complex point and is not anticipated to be resolved in the short term.”

In a letter to investors, administrators RSM confirmed that the company which … 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

Did the Lendy scandal impact the FCA review?

June 4, 2019 |

THE FINANCIAL Conduct Authority’s (FCA) final rules on the peer-to-peer lending sector did not come as a surprise. After years of discussions, an interim review, more feedback and more proposals – which last year, controversially, mooted investor marketing restrictions – … Read More

Lendy investors launch action group to ensure ‘fair representation’

June 4, 2019 |

DISGRUNTLED Lendy investors have set up an action group to ensure they are treated fairly by administrators of the collapsed peer-to-peer lending platform.

The property P2P lender went into administration at the end of May after months of speculation about … Read More

Three reasons Lendy’s collapse shouldn’t put you off investing in P2P loans

June 3, 2019 |

WHEN Lendy went into administration, it was not exactly a surprise due to mounting arrears, but it still sent shockwaves throughout the industry. With the Financial Conduct Authority on the brink of announcing its final rules on reforms of the … Read More

4th Way ‘not surprised’ by collapse of ‘opaque’ Lendy

June 3, 2019 |

LENDY’S collapse highlights the issue with opaque investing, peer-to-peer lending analyst 4th Way has warned.

Neil Faulkner, co-founder of 4th Way, said the closure of Lendy was unsurprising, highlighting that it has previously failed to disclose information for the website’s … Read More

Lendy administrator: Withdrawal restrictions set to continue

June 3, 2019 |

LENDY investors have been told by the collapsed platform’s administrator that they will be restricted from making withdrawals “until further notice”.

RSM was appointed as administrator of the beleaguered P2P property platform last month and has written to investors to … Read More

Orca chief says Lendy was “typical example of poor P2P”

May 30, 2019 |

ORCA Money’s chief executive Iain Niblock has slammed failed peer-to-peer platform Lendy as a “typical example of poor P2P lending”, as he urged investors to seek out less risky loans.

Niblock (pictured), who also co-founded the P2P investment aggregator and … Read More

P2P administrations: A timeline

May 29, 2019 |

LENDY was not the first peer-to-peer platform to go into administration, and it probably won’t be the last.

The property lender was officially handed over to administrators RSM last week, after the Financial Conduct Authority (FCA) opened an investigation into … Read More

Investors in limbo after Lendy goes into administration

May 28, 2019 |

RETAIL investors have been left in limbo about the recovery of their funds after peer-to-peer lending platform Lendy went into administration, amid an investigation by the Financial Conduct Authority (FCA).

More than £160m is currently outstanding on Lendy’s loanbook, with … Read More