Zopa warns over imitation scam firms

ZOPA has warned over a growing number of scam operators targeting UK customers using the peer-to-peer lender’s name to dupe investors.

“Online fraud is on the rise and the people behind the scams are getting smarter — we have even … Read More

City watchdog names Marlene Shiels as chair of SME panel

THE FINANCIAL Conduct Authority (FCA) has appointed Marlene Shiels as chair of its smaller business practitioner panel.

The panel is an independent statutory body that represents the interests of practitioners of small- and medium-sized firms across FCA-regulated activities.

Read more: … Read More

Most P2P investors back new FCA rules, finds Growth Street

PEER-TO-PEER investors back the regulatory changes coming to the sector, according to a market survey from Growth Street.

55 per cent of 356 investors surveyed by the P2P business lender said they believe the Financial Conduct Authority’s (FCA) incoming rules will … Read More

Tisa creates guide to appropriateness tests for P2P platforms

INVESTMENT and savings trade body Tisa has published a guide to appropriateness tests for peer-to-peer lending platforms to help them comply with new investor marketing rules.

The guide advises P2P firms on how to identify appropriate investors and how to warn clients … Read More

FCA explains reasoning behind Lendy authorisation

THE FINANCIAL Conduct Authority (FCA) has revealed more details behind its decision to authorise defunct peer-to-peer platform Lendy just 10 months before its collapse.

Responding to parliamentary questions from former City minster Lord Myners, the FCA’s chief executive Andrew Bailey … Read More

Lendy creditors to vote on administrator’s £1m fee proposal

LENDY’S creditors will vote on whether to approve administrators’ fees of up to £1.025m at a meeting on Wednesday.

Administrator RSM has proposed a fee cap of £1.025m plus VAT for the first 12 months of the investigation. This figure was … Read More

Ex-City minister seeks answers on Collateral collapse

THE GOVERNMENT and the Financial Conduct Authority’s (FCA) role in the regulation of collapsed peer-to-peer lender Collateral has been put under parliamentary scrutiny.

Former City minister Lord Myners – who has already urged the government to help set up independent … Read More

Ablrate unveils platform plans ahead of regulatory reforms

ABLRATE investors can now ‘follow’ loans they are not invested in, as part of a range of changes unveiled by the asset-backed lender to prepare for incoming regulations.

Previously, customers only received updates on loans they had invested in, but … Read More

New concerns emerge about FCA regulation of Lendy

LENDY investors have backed calls for an independent probe into the regulation of the peer-to-peer property lending platform prior to its collapse.

The latest administrator’s report on Lendy showed that the Financial Conduct Authority (FCA) had given full authorisation to … Read More

Strong foundations

Property is an incredibly popular investment asset, but can it maintain its shine in the peer-to-peer lending sector after high-profile platform failures? Marc Shoffman reports 

PROPERTY IS ONE OF THE fastest growing facets of the peer-to-peer lending sector, drawing its … Read More