littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Dec 6, 2019 13:07:51 GMT
I have done these on several platforms and IMO Abl's is the trickiest. I passed OK but had to give more thought than for others as each question has 2 or 3 correct answers. My advice is don't rush it.
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Post by ablrate on Dec 6, 2019 13:14:07 GMT
I have done these on several platforms and IMO Abl's is the trickiest. I passed OK but had to give more thought than for others as each question has 2 or 3 correct answers. My advice is don't rush it. Thanks for the feedback - some have failed as they have assumed 1 answer per question... and rushed it.. It is 'click all that apply'...
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hazellend
Member of DD Central
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Post by hazellend on Dec 6, 2019 13:19:29 GMT
Easy peasy. Concerning that people who get these wrong invest in P2P
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pom
Member of DD Central
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Post by pom on Dec 6, 2019 13:22:16 GMT
Err do we REALLY have to do it twice for regular and ISA accounts ?!?!?! (ugh looks like it as no lend buttons on my ISA account)
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Post by ablrate on Dec 6, 2019 13:25:42 GMT
Err do we REALLY have to do it twice for regular and ISA accounts ?!?!?! (ugh looks like it as no lend buttons on my ISA account) We are working on a fix for that - it is not a feature! I will mark yours as OK POM
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boundah
Member of DD Central
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Post by boundah on Dec 6, 2019 14:04:50 GMT
Err do we REALLY have to do it twice for regular and ISA accounts ?!?!?! (ugh looks like it as no lend buttons on my ISA account) We are working on a fix for that - it is not a feature! I will mark yours as OK POM I've done it for both accounts but I guess that just helps reinforce the important bits!
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pom
Member of DD Central
Posts: 1,922
Likes: 1,244
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Post by pom on Dec 6, 2019 14:06:07 GMT
Err do we REALLY have to do it twice for regular and ISA accounts ?!?!?! (ugh looks like it as no lend buttons on my ISA account) We are working on a fix for that - it is not a feature! I will mark yours as OK POM I already did it - figured you might fix it for me but wanted to finish what I wanted to do and get on with other stuff...thanks anyway
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Post by ladywhitenap on Dec 6, 2019 14:55:59 GMT
After the test, you have to "agree and continue"
one of the clauses to agree to is "I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;"
There is no "Date below" given.
LW
Please read across to my ISA account too.
Thanks
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Dec 6, 2019 15:22:33 GMT
How are these test results going to be implemented ? Who is checking what ? Can you selecting any type you want without checks ?
What kind of restrictions are going to be policed for an everyday investor vs a self-certified sophisticated investor for example?
Is this just a disclaimer certificate for the FCA or P2P platforms' own protection ?
Not aiming at Ablrate specifically but I would like to know.
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Post by ablrate on Dec 6, 2019 15:54:44 GMT
After the test, you have to "agree and continue" one of the clauses to agree to is "I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;" There is no "Date below" given. LW Please read across to my ISA account too. Thanks Thank you for the feedback we will fix.
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hantsowl
Member of DD Central
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Post by hantsowl on Dec 6, 2019 16:03:50 GMT
Err do we REALLY have to do it twice for regular and ISA accounts ?!?!?! (ugh looks like it as no lend buttons on my ISA account) We are working on a fix for that - it is not a feature! I will mark yours as OK POM Hi ablrate . Please mark my ISA as passed also, since I passed on my regular account. Another observation is that your HNW classification differs from all others I have completed. Others state “income of £100000” OR “assets of £250000”. Your definition states “...” AND “...” which automatically disqualifies retired people no matter how rich they are!!
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Post by ladywhitenap on Dec 6, 2019 16:07:39 GMT
One answer option is "Ablrate will manage all the money I have deposited on the Ablrate platform. " This should not be ticked.
This is ambiguous. I put the money in, tell you what to do with it and ABL does it - this to me is ABL managing my money as once I've put it in, I cant do anything other than ask ABL to "manage it"
LW
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Post by ablrate on Dec 6, 2019 16:11:41 GMT
How are these test results going to be implemented ? Who is checking what ? Can you selecting any type you want without checks ?
What kind of restrictions are going to be policed for an everyday investor vs a self-certified sophisticated investor for example?
Is this just a disclaimer certificate for the FCA or P2P platforms' own protection ?
Not aiming at Ablrate specifically but I would like to know.
Great question. These are self-certification not platform certification. We have a responsibility to make 'reasonable endeavours' to prove that the deceleration is true. We will be using a technical data solution similar to our automated AML/KYC checks to give us an idea of accounts we may wish to follow up and also use the standard monitoring such as investment over a certain amount etc. The restricted investor is very difficult to check. We would perhaps follow up an account that has invested a certain amount to clarify with the lender whether that classification is appropriate, but it really is relying on the lender to 'self-restrict'. I dont know if other platforms have an investment restriction. Would be interested to know. I dont think the certification would make much difference in a dispute. I went to a number of industry meeting about Dec 9th changes and it appears to me to be a genuine attempt to make sure the P2P platforms are being transparent about risks. The app test is not really the biggest thing, we feel that it is all the disclosures, many of which we have been doing for years in our borrowing proposals. I think you will see, from Monday, similar kinds of proposals that we do for other self select platform. Personally we look at these changes as a good thing. Our new platform due in Jan/Feb will take things even further with data analysis, risk management scores on portfolio which give automated tips to better optomised your portfolios, better return analysis, so you see how you are doing compared to the entire loan book etc... along with the implementation of the new secondary market.
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Post by ablrate on Dec 6, 2019 16:13:41 GMT
We are working on a fix for that - it is not a feature! I will mark yours as OK POM Hi ablrate . Please mark my ISA as passed also, since I passed on my regular account. Another observation is that your HNW classification differs from all others I have completed. Others state “income of £100000” OR “assets of £250000”. You definition states “...” AND “...” which automatically disqualifies retired people no matter how rich they are!! I think that has now been changed... thank you - and your ISA is done
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Post by ablrate on Dec 6, 2019 16:15:47 GMT
One answer option is "Ablrate will manage all the money I have deposited on the Ablrate platform. " This should not be ticked. This is ambiguous. I put the money in, tell you what to do with it and ABL does it - this to me is ABL managing my money as once I've put it in, I cant do anything other than ask ABL to "manage it" LW Thank you - now changed to "Ablrate will manage all the money I have deposited on the Ablrate platform like a fund and will select the loans to invest in for me"
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