Technology Risks Of P2P Loan Platforms Compared

Shadows of human figures in darkened room, with computer cabinets

Security around crowdfunding and peer-to-peer lending usually means financial security: knowing that client funds are segregated, that a business has made adequate provisions for liability, and due diligence has been done to ensure that a platform's offerings are realistically priced.

Today we look at a different of security risk: question of hacking, computer intrusion, data theft and other actions that might compromise the integrity of a platform's systems and procedure.

Crowd Regulator Will Make Changes To Protect Investors

A crowd of people held within two giant hands

The Financial Conduct Authority has published what it calls 'interim feedback' on its continuing consulation about the rules for crowdfunding, and whether they could be improved.

A lot of the responses we've seen around the web in the first few hours use the word 'crackdown'. It's not a word  we would use ourselves, and we are unable to find it in the FCA's press release or on their website . So we'd like to advise our readers of some things you might not have heard elsewhere:

Crowd Regulator Wants Your Advice

woman smiles and types into laptop

The Financial Conduct Authority (FCA) is asking for advice from interested parties about whether crowdfunding regulation is working in the UK, and how it could be improved.

We knew this was coming, because when the FCA took over regulation of equity crowdfunding and peer-to-peer lending in April 2014, it committed to undertaking a 'post-implementation review' in 2016.

Pick and Mix ISAs are coming to Peer-to-Peer

As Another Crowd predicted in February, the FCA has announced that firms holding the appropriate licence will be allowed to offer Innovative Finance ISAs (IFISAs) that contain a portfolio of loans from more than one peer-to-peer lender.

Storm In A Teacup by JBraine

The announcement is being treated in some sections of the press as the government bowing to pressure from industry lobbying.

IFISA Confusion: We Checked The Facts

We've been reading allegations that the regulator doesn't see eye-to-eye with the taxman over the new Innovative Finance ISA (IFISA).  FT Adviser broke the story on Tuesday and it was picked up by Crowdfund Insider and Money& Co. yesterday. 

This news is worrying, if true. As we reported two weeks ago, lending platforms are going through an obstacle course to get their IFISA offerings approved by both the FInancial Conduct Authority (FCA) and HM Revenue and Customs (HMRC) before the new tax year starts on the 6th April. If the organs of government are arguing over the details, businesses and taxpapers cannot resolve the uncertainty.