Following consultation, the Financial Conduct Authority (FCA) is introducing rules in the peer-to-peer (P2P) sector, “designed to prevent harm to investors, without stifling innovation”. The regulator has refined its proposals, giving additional guidance to make it clear that platforms will not be prevented from including information about specific investments in their marketing materials.
The long awaited changes to P2P lending regulations in the UK are finally here. Today, the Financial Conduct Authority (FCA) announced that the new rules for peer to peer lending platforms have been set and will come into effect on December 9, 2019. The biggest change here is around investor protections and it is also [.]
The restrictions mean that new customers will only be able to allocate 10% of investable assets, and will have to pass an appropriateness test to invest in P2P platforms. The latest set of rules.
· However, now that the FCA is regulating the market, platforms are under scrutiny and must adhere to several new rules: Peer-to-peer lenders are subject to the FCA’s Principles for Business, which provide an over-arching requirement to act with integrity, skill,
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FCA confirms new rules for P2P platforms FCA | June 7, 2019 Following consultation, the Financial Conduct Authority (FCA) is introducing rules designed to prevent harm to investors, without stifling innovation in the peer-to-peer (P2P) sector.
The Financial Conduct Authority has tightened the rules around peer-to-peer (P2P) lending, including a limit on investments in P2P agreements for retail customers new to the sector. For the UK’s businesses, it’s an intriguing sign of a sector that’s maturing into an alternative to the high street banks.
The FCA has introduced. the event of platform failure. If your firm is affected by any of the above, we can help you to carry out a ‘gap analysis’ and consider what changes you will need to make to.
As a result of its initial findings, the FCA is proposing tougher new rules, including more mandated risk disclosures, strengthening wind-down rules, and restrictions on cross-platform investments.
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For P2P crowdfunding, the FCA is proposing a package of additional rules and guidance which are intended to formalize requirements and improve standards, without thwarting innovation. The main changes proposed include requiring p2p platforms to: provide clear and accurate information about a potential investment to investors;
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