Mark Turner Discusses The FCA’s Crackdown on P2P Lenders

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, spoke to P2P Finance News about the Financial Conduct Authority’s (FCA’s) crackdown on peer-to-peer (P2P) lending platforms following the collapse of a UK-based P2P firm.

Mark commented on the scrutiny received from P2P lenders by the FCA, after client money failures were exposed. As a result, new regulations will be introduced which will demand higher expectations from both firms and individuals.

“The industry and FCA are going to see increased pressure from the public as investors lose money. From a regulatory angle, recent headlines will undoubtedly increase the urgency at which the FCA might take action in an attempt to prevent investors losing more money.” Mark said.

Read the full article here.

 
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