The Financial Conduct Authority (FCA) has been taking a long, hard look at the peer-to-peer (P2P) lending sector in the light of recent high-profile failures, such as that of Lendy. The latest compliance moves from the FCA have been greeted in tones of shock and horror (see below, a report from our friends at P2P […]
The European Banking Authority (EBA) is looking into how the business of peer-to-peer (P2P) lending is conducted. The UK P2P sector has had its own problems with the collapse of Lendy – which was regulated by the Financial Conduct Authority (FCA) but still failed. See our take on the way forward here. Problems experienced with […]
The UK’s financial watchdog, the Financial Conduct Authority, has published a review of the crowdfunding industry and concluded that tighter regulation was needed for peer-to-peer (P2P) lending. Having read the latest materials, we heartily agree. The FCA states [it has] “observed the variety of loan-based crowdfunding business models, some of which have become increasingly complex. […]