Question: When is advice not advice? Answer: When it comes from the Financial Conduct Authority (FCA). Let’s start with a little context. There’s been a greater focus on the peer-to-peer (P2P) sector from commentators and regulators, following the lamentable failure of the P2P platform, Lendy. Lendy’s collapse was linked – completely unfairly – with a […]
No government is perfect. But it’s hard to fault the present administration’s attitude to the peer-to-peer (P2P) lending industry. The government recently announced the beginning of legislation that will “clarify that no business borrowing through a peer-to-peer platform needs to be regulated as a ‘deposit taker’ (often referred to as a ‘banking licence’) unless that […]
Young industries have their teething problems. The alternative finance sector includes crowdfunding, and, within that, debt funding to small companies seeking funds to grow. The crowd – typically individuals seeking good returns on capital by lending to carefully vetted small businesses – can provide those funds. This activity has been called crowd lending by some, […]
Young industries often find themselves with teething problems. Witness the agonising over the implementation of Innovative Finance ISAs (aka IFISAs – tax-free savings plans holding up to £15,240 permanently free of capital or income taxes). The UK government has been enthusiastic about helping peer-to-peer (P2P) crowdfunders like Money&Co. reach a mass audience – and IFISAs are […]
The crowdfunding industry is facing what some term “First World Problems”. In other words, the future is warm and bright for the industry and consumer alike – and the major difficulty is how to make the best of a good situation. In concrete financial terms, the Innovative Finance Individual Savings Account (IFISA), which will be […]
The role played by the Enterprise Investment Scheme (EIS) in funding small businesses appears to be greater than ever, with official figures from HMRC, otherwise known as the taxman, revealing that investment through the scheme soared to £1.4 billion last year, writes enterprise-ip.com. For the full story, click here. We like to think we’re […]
I have long believed that forcing people to buy annuities was unfair, and was a poor way for pensions to be invested. And so the government’s decision to remove the compulsion to buy an annuity at age 75 and, indeed, to allow anyone over 55 to take their pension money and invest it for themselves, […]