Mark Turner Featured in The Times – FCA Takes Wind Out of P2P Lending’s Sails

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, spoke to The Times about the Financial Conduct Authority’s (FCA) crackdown on 65 peer-to-peer (P2P) lending platforms following the collapse of a UK-based P2P firm.

Mark said the regulator finds peer-to-peer tricky to manage, not least because most operators are ambitious owner-managers rather than experienced financiers. “Entrepreneurs often haven’t had experience of dealing with the FCA. The regulator and the platform operators may not always understand each other’s perspectives, creating a communications barrier,” he added. Mark described the cocktail of a fast-growing sector with thousands of retail investors, some of whom will be vulnerable, and the possibility of a downturn in the economy as a “perfect storm for the regulator.”

Subscribers of The Times can read the full article here.

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