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
fca office
November 10 2020

New FCA boss monitoring risks of consumers seeking higher returns

Marc Shoffman Industry News, News, Top 3 Andrew Bailey, FCA, Financial Conduct Authority, Nikhil Rathi

The Financial Conduct Authority’s (FCA) new chief executive Nikhil Rathi has said that the regulator will be focusing on the risks involved with higher-return investments, as he set out his strategy.

Speaking on the City watchdog’s Inside FCA podcast, Rathi said the regulators remains “very vigilant” to the risks faced by consumers in a low interest rate environment.

“It’s only natural that consumers are going to be looking for higher returns and also as people have more flexibility over how they deploy their savings, there’s also the opportunity to take more risk as well,” Rathi said.

“That can mean being exposed to scams particularly online and sometimes fraudulent activity and we’re going to be very vigilant around those activities too.”

He didn’t name any products specifically but the FCA has a history of lumping P2P lending into the risky end of financial services.

Rathi also acknowledged that there was a growing risk of regulated firms failing during the pandemic.

Read more: FCA chair suggests tougher rules on high risk products for retail investors

“We cannot stop some of the firms that are under FCA oversight from failing,” he said.

“We are not nor should we be a zero-failure regulator.

He added that in those circumstances, the FCA will work to “ensure that risks are managed and consumers are adequately protected.”

Rathi replaced Andrew Bailey who became Bank of England governor earlier this year.

 

LendInvest heralds benefits of bridging finance in uncertain times Growth Street founder joins Capdesk

Related Posts

Model Houses Hanging By Strings

Industry News, News, Top 3

LendInvest bond value lost £5.8m during pandemic

Sonnenuntergang hinter den modernen Wolkenkratzern der Skyline von London, Großbritannien

Industry News, News, Top 3

Everything we know about the CBILS successor scheme (so far)

businessman working data document graph chart report marketing research development  planning management strategy analysis financial accounting. Business  office concept.

Industry News, News, Top 3

Losses narrowed at Lending Works before Intriva takeover

Popular posts:

  • Government responds to P2P fraud query
  • FCA lumps P2P lending in with higher risk products again
  • The alternative lenders accredited for CBILS
  • 4th Way gives its views on Zopa and Funding Circle returns
  • Funding Circle to offer first and second draw PPP loans
  • SME lender warns many companies will not survive
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