Anyone have access to the times ? - "P2P lenders warned"
Sept 27, 2019 9:36:01 GMT
registerme and Mucho P2P like this
Post by keitha on Sept 27, 2019 9:36:01 GMT
Would love to read the full article
The City regulator has warned Britain’s peer-to-peer lending industry to “act now” to clean up poor practices or face a “strong and rapid” crackdown.
The Financial Conduct Authority told chief executives of platforms which arrange billions of pounds worth of loans to address concerns and accused some lenders of exposing ordinary investors to undue risks.
In a seven-page letter seen by The Times and sent to 65 firms, the authority highlighted problems including weaknesses in disclosure of information to clients, opaque charging structures and inadequate record keeping.
The City regulator has warned Britain’s peer-to-peer lending industry to “act now” to clean up poor practices or face a “strong and rapid” crackdown.
The Financial Conduct Authority told chief executives of platforms which arrange billions of pounds worth of loans to address concerns and accused some lenders of exposing ordinary investors to undue risks.
In a seven-page letter seen by The Times and sent to 65 firms, the authority highlighted problems including weaknesses in disclosure of information to clients, opaque charging structures and inadequate record keeping.
