This means that P2P platforms now have six months to reflect the new requirements into their organisational arrangements, including implementing new policies and procedures where necessary to ensure compliance with the new framework. FCA to reflect on marketing restrictions. The FCA has also indicated that it is looking at its approach to marketing restrictions more generally, i.e. not only for loan.
· The long awaited new rules for P2P lending in the UK are now here; the Financial Conduct Authority (FCA) announced today details of the new rules that will go into effect on December 9; the biggest changes concern investor protections; investors will now only be able to invest 10% of their investable assets into peer to peer lending and they will have to take an “appropriateness test” to.
The FCA has strengthened rules on plans for the wind-down of P2P platforms if they fail. It has introduced a requirement that platforms assess investors’ knowledge and experience of P2P investments where no advice has been given to them. The rules also cover setting out the minimum information that P2P platforms need to provide to investors.
In June, the FCA published its policy statement on crowdfunding platforms ().PS19/14 contains two new sets of rules which apply to: (i) loan-based (P2P); and (ii) investment-based crowdfunding platforms.Prior to this, P2P and investment-based crowdfunding platforms were already subject to the FCA’s High Level Standards, such as the Principles for Business.
The Financial Conduct Authority (FCA) is tightening the rules that oversee peer-to-peer (P2P) platforms including their governance, risk management and a cap on maximum investment.
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The long awaited changes to P2P lending regulations in the UK are finally here. Today, the Financial Conduct Authority (FCA) announced that the new rules for peer to peer lending platforms have been set and will come into effect on December 9, 2019. The biggest change here is around investor protections and it is also the most controversial piece.
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From December, new FCA rules will bar private investors from putting more than 10% of their investable assets’ into P2P, unless they have taken independent financial advice. If still tempted, do your.
IBM Addresses AI Bias with Massive Image Archive eWeek: IBM Addresses AI Bias with Massive Image Archive. "IBM revealed that it will soon make available to the global research community a dataset of 1 million images to improve facial analysis system training; plus a dataset of 36,000 facial images that algorithm designers can use to evaluate bias in their own facial analysis systems."