Crowdfunding: Regulation
(asked on 30th September 2019) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what steps they are taking to (1) investigate delays in, and (2) take action to speed activity in, and (3) ensure lenders are properly informed about, secondary market sales in peer-to-peer lending.
Answered by
Earl of Courtown
Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)
The Government monitors the peer to peer (P2P) lending sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector.
The operationally independent FCA recently published new rules for the sector. These will come into force on 9 December and include enhanced requirements on governance, risk management and investor protection.