Mark Turner Speaks to Peer2peer Finance News About New Wind-down Rules

In an article in Peer2Peer Finance News, Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, comments on the legal complexities of the new wind-down rules for lenders.

To comply with Financial Conduct Authority regulations, peer-to-peer lenders must carefully identify their wind-down options. Firms are required to inform investors of their wind-down arrangements and report which parties will be managing these arrangements.

In order for firms to successfully comply with the new wind-down rules, they must create a separate trust, legal structure or company if they want to ring-fence funds, but it’s likely that the same issues will still arise.

Mark comments, “Using this approach would have to ensure the failure of the platform doesn’t result in whoever is holding the ring-fenced account failing. It is important to remember there is a difference between guidance and rules, this is just a suggestion. This approach is expensive as it involves stripping capital out of the firm.”

Read the full article here.

2020-01-08T00:00:00.0000000 0001-01-01T00:00:00.0000000 /about-us/news/mark-turner-finance-news-new-wind-down-rules /-/media/assets/images/news/featured-images/2019/mark-turner-hfm-compliance.ashx news {DA6CC51B-740E-439A-B283-2BBFB5326BAA} {DE05ECA4-1852-4BEF-A4E1-491CB497F9CB} {4FD55120-2DD8-4DB5-8DAA-3D9212C2436D} {4678CD32-7147-4D6F-82E3-175B49DB1C03}

Related Services

Duff & Phelps Compliance and Regulatory Consulting

By Jurisdiction

Regionally targeted assistance for asset managers in compliance program development, implementation and maintenance

By Jurisdiction
Duff & Phelps Compliance and Regulatory Consulting

UK Regulation

Comprehensive compliance and regulatory support for FCA authorized firms.

UK Regulation

News