Editor Ryan Weeks and host Mike Baliman discuss the FCA’s proposed crackdown on P2P platforms.
Responses to the FCA’s consultation on crowdfunding rules are due 27 October, a little under a month’s time.
The big change mooted by the regulator is to subject peer-to-peer lenders to the same promotions rules that already apply to equity crowdfunding platforms. The bottom line is that retail investors will only be able to invest 10 per cent of their net investible portfolio in P2P loans, should the changes go through.
Last week, AltFi kicked off a campaign opposing these changes entitled ‘Trust the Investor’. If you agree with us, please take the time to sign our petition.
To learn more about the proposals, tune into the latest episode of the London Fintech Podcast: FCA Proposes Undemocratisation: Taking the “P” Out of P2P.
In his show notes, founder and host of the podcast Mike Baliman says the ethos of P2P will be ‘all but dead’ if the proposals go through, and he calls on the regulator to rethink them.
We hope you enjoy the debate and encourage you to share your thoughts in the comments section of our Trust the Investor campaign page.
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