Category: Crowdfunding & P2P Lending

TSC publishes crowdfunding correspondence with PRA & FCA. “Tax incentives” now at risk?

The UK’s Treasury Select Committee (TSC) has published an exchange of letters with each of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). In the covering press release, TSC Chair, Andrew Tyrie MP, argues that “Government policies to promote … crowdfunding … may have the right intention – to increase competition in the SME lending market – but […]

FCA review of crowdfunding & peer-to-peer lending rules – change and enforcement likely to follow

The FCA has published a “Call for input to the post-implementation review of [its] crowdfunding rules“. Some will think this is code for “move along please, there’s nothing to see here” – and that would be understandable. But anyone who falls for that will be missing a trick because the FCA is giving us an insight into […]

UK Treasury Select Committee to investigate adequacy & appropriateness of crowdfunding regulation?

The Chairman of the Treasury Select Committee (TSC), Andrew Tyrie MP, has written to the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) about crowdfunding. Although he doesn’t say so in terms, Tyrie almost certainly had the recent collapse of two crowdfunded UK companies in mind, when he put pen to paper.

Crowdfunding in the European Union: Commission publishes Staff Working Document

The European Commission has published a staff working document on “Crowdfunding in the EU Capital Markets Union“. The Commission believes that crowdfunding is still relatively small (€4.2bn was raised by crowdfund in the EU in 2015); and that it tends to operate within, rather than across, national boundaries. But, it’s changing […]

Peer-to-Peer lending: updates from the FCA & HM Revenue & Customs

The FCA has published a “Statement on Peer-to-Peer applications for full authorisation“. As at 30 March 2016: 8 Peer-to-Peer (P2P) lending platforms had been fully authorised by the FCA; 44 were operating under an interim permission, which is keeping their respective Office of Fair Trading consumer credit licences alive, until the FCA decides […]

#InsurTech, and the emergence of Peer-to-Peer insurance

Insurers and insurance distributors don’t usually think of themselves as emerging companies. These industries “emerged” more than 300 years ago; and they’ve been growing and developing ever since. So why is Cooley being asked about #InsurTech and Peer-to-Peer (P2P) insurance so often? Answer: because these things are real, they’re growing, and they’re coming to EC3. (In fact, they’re already here.)

The growth of UK peer-to-peer lending & crowdfunding: a good news story

The University of Cambridge and Nesta have published their latest report on the growth of the UK’s P2P lending and alternative finance industry, and it makes very happy reading indeed. In 2015: