FCA to probe peer-to-peer lending sector

The UK’s financial watchdog is probing the £2.7bn crowdfunding sector for the second time in two years, following widespread calls for tougher regulation of so-called “alternative finance” providers.

On Friday, the Financial Conduct Authority said it would scrutinise the burgeoning sector to find out if consumers who lend and invest money on peer-to-peer and similar crowdfunding platforms understood the risks they were taking — especially as the industry attracts more “retail investors who are less experienced or knowledgeable”.

For Full Article go to: http://www.ft.com/cms/s/0/7663e4b4-44fb-11e6-b22f-79eb4891c97d.html#ixzz4EUZCbiiT


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