Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
Sachin Patel Funding Circle - crop
February 10 2017

Funding Circle’s Patel: US deregulation is no threat to P2P

Kathryn Gaw Industry News, News banking regulation, Donald Trump, Funding Circle, Funding Circle SME Income Fund, laissez-faire, p2p regulation, retail financial services regulation, Sachin Patel

US PRESIDENT Donald Trump’s plans to deregulate financial services are no threat to peer-to-peer lenders, Funding Circle’s global co-head of capital markets has said.

“Trump has been quite open about his plans for deregulation, but I think that’s more with regard to investment banks,” said Sachin Patel (pictured) at a media roundtable held by the Association of Investment Companies.   

“However, if he does deregulate retail financial services, that’s not the only way we compete with banks. It’s not just regulatory capital considerations, we can offer other advantages such as speed of transactions.”

Read more: What does Trump’s victory mean for the UK’s P2P industry? 

Read more: Funding Circle’s fund unfazed by Trump as income quadruples

Funding Circle is headquartered in London and is the third-largest lender to small businesses in the UK. However, it is one of the only P2P platforms to have expanded internationally and now operates in the US, as well as Germany, Spain and the Netherlands.    

Patel added that Funding Circle’s risk team was monitoring signals around the time of the EU referendum vote and Trump’s election, to assess any stress in the economy. “We haven’t seen any signs of stress yet; there’s no reason to tighten the credit box,” he said.

Read more: P2P will prosper in a downturn, says Funding Circle’s Desai

Funding Circle, like most major P2P platforms, is still awaiting regulatory authorisation so that it can launch its Innovative Finance ISA (IFISA). However, its London-listed fund – the Funding Circle SME Income Fund – means that its loans are already accessible to individuals investing in a self-invested personal pension (SIPP) or an ISA.

Read more: Funding Circle SME Income fund plans new share issue          

Patel said he was not concerned that the launch of the IFISA would take investors away from the fund.

“I think they will be very complimentary products,” he said. “I think there will be people who want to invest just in the UK via the IFISA, but others who want to invest in loans from the US and Germany through the fund. We’re growing so much, there’s plenty of room for both and I think they will grow in tandem.”

LendingCrowd days away from IFISA launch Money&Co plans to launch IFISA by early March after gaining FCA approval

Related Posts

CLOSED Out of business shop sign vector illustration

Industry News, News, Top 3, Uncategorized

SME lender warns many companies will not survive

London, UK - Downing street offices, entrance gate

Industry News, News, Top 3

Government responds to P2P fraud query

money UK

Industry News, News, Property, Top 3

The alternative lenders accredited for CBILS

Popular posts:

  • MP queries level of fraud in P2P lending
  • Aave launches higher risk, higher return option for…
  • Some firms set to pay more than maximum CBILS interest rate
  • Growth Street to return 100pc of investor funds
  • A year in the life of the 36H Group
  • Investors urged to look at ISA options ahead of…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by