FCA introduces new rules for P2P platforms
Laura Suter, analyst at AJ Bell, said: "Peer-to-peer platforms have been dealt a blow by the regulator today, as the FCA introduces new rules to tighten up the sector.
An important development within equity-based crowdfunding was continued innovation in the products offered by platforms, which introduced a blend. IFISA in April 2016, the FCA has issued new rules.
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The Financial Conduct Authority has opened a consultation on new rules for loan-based crowdfunding platforms as a first step to fix “increasingly complex” business models. The regulator today issued.
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The new rules and guidance will come into force on December 9, 2019, with the exception of applying MCOB to P2P platforms that offer home finance products, which comes into force today (June 4, 2019).
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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.
In an update on its website, the FCA said work on the new platform was at an early stage and it is not yet known when the.
P2P platforms must implement changes by 9 december 2019, but the application of MCOB is immediate. 5th June 2019 Raphaels fined 1.9m by FCA and PRA for outsourcing mismanagement
The FCA has confirmed new rules designed to prevent harm to investors in the P2P sector. These rules have been devised to protect investors and allow firms and fundraisers to operate in a sustainable manner.
Changes of the rules for P2P lending platforms in UK.If you follow news on P2P lending you may be aware that over the last few years the Financial Conduct Authority (FCA) have been carrying out a review of the Peer-to-peer and crowdfunding (equity) sectors.
“Asset-backed secure loans funded by crowd investment platform” No More. Lendy as a company has been fairly quiet as of late. A release from November 2018, announced new. the FCA will provide an.
During the final quarter of 2018, more than £800 million of new lending. makes the FCA uncomfortable. Peer-to-peer platforms have had to be authorised since 2014. However, the FCA’s recent.