FCA Clamps Down On Peer-to-Peer Investment Market

Law360, London (June 4, 2019, 12:52 PM BST) -- The financial watchdog set out new rules on Tuesday that will limit the amount that retail investors can allocate to peer-to-peer lending as it cracks down on the loan-based crowdfunding sector.

New retail investors will not be allowed to put more than 10% of their assets in peer-to-peer loans without regulated advice, the watchdog has said as it seeks to stop them “over-exposing themselves to risk.” (AP) New retail customers will not be able to invest more than 10% of their assets in peer-to-peer loans from December, unless they have sought regulated financial advice, the Financial Conduct Authority confirmed. The rules are designed...

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