Excitement is growing about the imminent arrival of the Innovative Finance ISA (IFISA), which will technically be available from 6 April. Technically is the key word. The government was keen to introduce the IFISA in order to help provide much-needed access to finance for UK small and medium-sized companies (SMEs). However, almost unnoticed, a statutory […]
The prospects for the Innovative Finance ISA (IFISA), set to launch in April, look good. Soon, investors and lenders will be able to hold £15,240 in peer-to-peer (P2P) loans and enjoy the income tax-free. City AM cites research that predicts a take-up of some 400,000. But not everything in the IFISA garden is rosy. The […]
The UK’s chief financial regulator, the Financial Conduct Authority (FCA), has just published a consultation paper on how peer-to-peer (P2P) lenders in the crowdfunding space should handle lenders’ money. We’re particularly interested in this, as Money&Co. is a P2P business lending crowdfunding platform with a commitment to bring individuals seeking a good return on capital […]
What’s fair in crowdfunding? What’s the correct balance between properly protective regulation and allowing equity and peer-to-peer crowdfunders such as Money&Co. to promote their offers? The UK’s top financial watchdog, the Financial Conduct Authority (FCA), is assessing these very questions right now. Citywire reports on the FCA’s consultation process, in particular the regulation of social […]
The authorities seem to have an ambivalent attitude towards our part of the crowdfunding world, known as peer-to-peer (P2P) business lending. On the one hand, the government has been extremely positive about P2P, and will allow it to be included in Individual Savings Accounts (ISAs) in the next tax year (Innovative Finance ISAs, or IFISAs). […]
Next tax year will see peer-to-peer (P2P) loans becoming eligible for Innovative Finance Individual Savings Accounts (IFISAs). That means investors get all the benefits of tax-free savings up to £15,240 per annum. The average rate achieved by Money&Co. lenders being just over nine per cent (eight per cent net of charges). If you invested the […]
P2P or not P2P? That is the question. Over the past 18 months, we’ve run a series of articles on the general awareness – or the lack of it – of alternative sources of finance for small and medium-sized enterprises (SMEs). This AVIVA survey was just one of many to point up the fact that […]
FT Adviser reports on the increasingly hot topic of regulation in crowdfunding. The potential ramifications of the testimony of the chairman of the Financial Conduct Authority before the Treasury Select Committee. “The chairman of the FCA has expressed concerns about peer-to-peer lending which he said was starting to look like banking, with one MP […]
These are exciting times for the peer-to-peer lending sub-sector of crowdfunding, as a recent speech and a new report indicate. The P2P sector – that’s the space we inhabit at Money&Co. – is regulated by the Financial Conduct Authority (FCA), the UK’s leading regulator of financial services. The FCA has been widely and rightly praised […]
Our part of crowdfunding is getting ever more crowded. Judith Evans reports in The Financial Times on a surge in the number of peer-to-peer (P2P) lenders seeking authorisation from the Financial Conduct Authority (FCA). “More than 100 peer-to-peer lenders have applied for full authorisation from the City regulator as entrepreneurs jostle for territory in the […]