Withdrawals from our Access Accounts are slower than usual as we are no longer operating in normal market conditions as a result of Coronavirus. There is currently a queuing system in place, click here to find out more.
Withdrawals from our Access Accounts are slower than usual as we are no longer operating in normal market conditions as a result of Coronavirus. There is currently a queuing system in place, click here to find out more.

FCA confirms new regulations for peer-to-peer industry

FCA confirms new regulations for peer-to-peer industry

 The new rules include a 10% limit on the amount of peer-to-peer investments a non-seasoned investor can hold in their portfolio, as well as a requirement that platforms assess investors’ knowledge and experience of P2P investments before allowing them to invest. More information on the new rules can be found on the FCA’s website here: https://www.fca.org.uk/news/press-releases/fca-confirms-new-rules-p2p-platforms

Stuart Law, CEO at Assetz Capital said: “In the main, we consider the new rules and guidance to be a positive step for the industry and for consumers. We believe that the suite of changes described in the document acknowledges the progress made over the last five years and positions P2P in the mainstream as a valid investment class. The changes should lead to broader consumer knowledge and understanding coupled with greater protection, which can only be a good thing for all involved.

“We regret the introduction of investment limits for new investors rather than ensuring that they understand clearly the nature of P2P, the specific offering of the platform and the risks involved, then allowing them to make decisions for themselves. That said, we do understand the FCA’s reasons for moving ahead with these.

“In the overall context the new rules and guidance, once bedded in, should provide additional comfort and confidence to all of our lenders – both existing and prospective.”

- June 5, 2019