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P2Ps – What you need to know about the new FCA Rules

The Financial Conduct Authority (FCA) has published new rules for loan-based P2P platforms which will come into effect on 9 December 2019. The introduction of the new rules is timely coming after the collapse last month of Lendy, a P2P platform that facilitated loans to property developers.
The rules require changes to marketing practices and a wide-ranging review of existing governance and policies. They have the potential to create significant risks for P2P platforms if not implemented properly. 

In this note, we summarise the new rules and highlight the issues for P2Ps to focus on as they prepare for implementation over the coming months.

Read the full report HERE.

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