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Further Insight on the FCA’s Authorization Process
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Further Insight on the FCA’s Authorization Process

Further Insight on the FCA’s Authorization Process

Fintech Nexus Staff·
News RoundupOnline LendingRegulation
·Jan. 17, 2017·1 min read

As of January 2017 the Financial Conduct Authority (FCA) has fully authorized ten peer-to-peer lenders, according to AltFi, while the remainder of the industry operates with interim approvals; AltFi speculates on some of the characteristics of the authorized and interim lenders; of the authorized firms, Folk2Folk is the largest with originations of approximately 100 million British pounds ($120.44 million); the UK’s largest platforms including Zopa, RateSetter and Funding Circle still have not been approved; loans from these lenders are primarily unsecured; characteristics identified by AltFi as issues for the FCA include: pre-funding, collective investment, auto-investing and institutional investment.  Source

  • Fintech Nexus Staff
    Fintech Nexus Staff

    This piece was created by one of our content team members. Reach us at [email protected]

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