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.

2019-10-09T00:00:00.0000000 0001-01-01T00:00:00.0000000 /about-us/news/mark-turner-fca-p2p-lending-sails /-/media/assets/images/news/featured-images/2019/mark-turner-fca-p2p-lending-sails.ashx news {DA6CC51B-740E-439A-B283-2BBFB5326BAA} {4FD55120-2DD8-4DB5-8DAA-3D9212C2436D} {4678CD32-7147-4D6F-82E3-175B49DB1C03} {95D7F66C-11BB-4E7D-B07C-48874A321F98}

Related Services

UK Regulation

Comprehensive compliance and regulatory support for FCA authorized firms.

UK Regulation

News