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What the new P2P rules mean

  • Describe how the FCA rules will improve consumer protection
  • Identify the dangers of the rules over 'sophisticated investors'
  • Describe some of the problems the FCA found with P2P platforms
CPD
Approx.30min

What might do so are more high-profile collapses.

The higher returns may not look quite so attractive if the sector as whole starts to be seen as a high-risk gamble.

The P2P sector still has huge capacity for growth and can continue to play an important part in providing an increasing source of funding for British businesses and individuals, whilst offering attractive returns to investors.

But to do so long-term, it needs to put the right governance, controls and care for customers in place.

It has great potential; whether that is realised is in firms’ own hands, or that of their peers.

Mark Turner is managing director compliance and regulatory consulting at Duff & Phelps

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. The Financial Services Compensation Scheme protects P2P loans of up to £85,000, true or false?

  2. Which of the following was NOT considered poor practice by the FCA among P2P platforms?

  3. Which of the following is NOT a change instigated by the FCA?

  4. What percentage of their investible assets will inexperienced investors be allowed to invest in a platform?

  5. What is one of the dangers of reclassifying people as sophisticated investors?

  6. The new FCA rules are likely to drive P2P platforms out of business, true or false?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe how the FCA rules will improve consumer protection
  • Identify the dangers of the rules over 'sophisticated investors'
  • Describe some of the problems the FCA found with P2P platforms

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