New UK P2P Lending Rules Could Weed Out Weaker Lenders

The UK’s Financial Conduct Authority approved new rules for the p2p lending market that many think will weed out weaker lenders and those who have yet to reach scale; “People have had their chance to grow their business to a decent scale. That chance has gone now,” said Stuart Law, Chief Executive of Assetz Capital, to the FT; the new rules limit the amount investors can put into p2p lending and have added an appropriateness test; “We think what is going to emerge is a much stronger industry where there is less doubt; fewer players but probably stronger players with a bright future,” said Rhydian Lewis, Chief Executive of RateSetter, to the FT. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.