FCA tightens controls on peer-to-peer lending rules

As the Financial Conduct Authority (FCA) releases its latest rule book for loan-based, peer-to-peer platforms, Kam Dhillon, principal associate at Gowling WLG, explains the regulator’s latest attempts to improve investor protection

The Financial Conduct Authority (FCA) published its Policy Statement (PS19/14) on 4 June 2019, outlining new rules for loan based ('peer-to-peer') platforms.

The final rules follow on from, and are broadly in line with, the FCA’s proposals in the consultation it launched in July 2018 in CP18/20. The FCA’s aim is to improve standards within the sector while supporting innovation, enhance investor protection and allow platforms to operate in a sustainable manner.

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