UK Bond Network has received authorization from the Financial Conduct Authority (FCA); allows UK Bond Network to offer investors access via the innovative finance individual savings account (IFISA); the FCA is now authorizing both crowdfunded lenders and bond platforms. Source
The Financial Conduct Authority (FCA) removed 12 UK crypto firms from its registration list, leaving only five companies with a temporary registration status.
CEO of LendIt Fintech Bo Brustkern recently traveled to London to meet with fintechs, regulators and investors; in this post...
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https://lendit.wistia.com/medias/zmw4ew8yhx?embedType=async&videoFoam=true&videoWidth=640 London is the undisputed heavyweight champion of fintech, but it has found itself with a PR problem: Brexit. Will...
In an interview with P2P Finance News, Christine Farnish talks about their relationship with the Financial Conduct Authority, the recent departures of LendInvest and RateSetter from the group and updates to membership criteria; Farnish teased that there will be major changes to the way the P2PFA operates coming in November. Source
AltFi highlights four main factors influencing alternative finance in 2017; UK regulatory developments continue to influence the market with new authorizations from the Financial Conduct Authority and ongoing consultation on the crowdfunding market; the small business lending referral scheme began in November with high expectations for increasing alternative lending originations; the launch of Marcus by Goldman Sachs is expected to affect competition and potentially set a precedent for online lending platforms lending from deposit capital; the Article 50 clause, which begins the process for the UK leaving the European Union, is still open for debate with the final action occurring in March; the March results will significantly influence the economic environment in 2017. Source
The UK online lender was launched with a focus on secured aviation lending and has expanded to other types of transactions including secured capital equipment and property lending; it says the authorization will help it to expand and further concentrate efforts on its technological development; the firm has reported an 850% increase in loan volume in the last year; the firm has plans to launch in Australia and also expand to other regions. Source
The Financial Conduct Authority (FCA) has released their annual Sector Views report; it warned of high-risk retail investments, calling out...
Stress testing from Funding Circle has reported its loan platform would still provide investors with a net return of 6.4% given a worst case market scenario; while effects from Brexit continue to be debated, market skeptics are not as optimistic as the UK platforms; they foresee stagflation in the UK characterized by higher unemployment and slowing GDP growth; they are also concerned about a lack of skin in the game which has prompted parliament member, Chris Philp, to request from the Financial Conduct Authority that a portion of each firm's loans include balance sheet capital; while marketplace lending executives are against this approach, policy makers are considering it. Source
The FCA has placed Lendy under special supervision in January citing concerns about their ability to meet the standards required...