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Post by extremis on Aug 28, 2016 20:16:17 GMT
I know that Mintos applied for FCA regulation several months ago; what is the current status of the application? Is it anyway affected by BREXIT poll?
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Post by extremis on Oct 24, 2016 23:19:09 GMT
Any update on the current status of the application?
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Post by martins on Oct 25, 2016 16:01:14 GMT
Nothing new, still working with the FCA on getting the right permissions for our activity.
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Post by extremis on Oct 27, 2016 22:22:42 GMT
Thanks, martins; please keep us informed when you have any news regarding FCA regulation. |
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Post by mopcku on Jan 2, 2017 11:58:01 GMT
Thanks, martins ; please keep us informed when you have any news regarding FCA regulation. Hi
What will happen in case of FCA approvement? Will Mintos move to England?
BR Mopcku
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0risk
Member of DD Central
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Post by 0risk on Jan 9, 2017 12:36:42 GMT
I think I heard them say at Lendit Conference that they'll abort this because of Brexit.
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p2pmark
Member of DD Central
Posts: 217
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Post by p2pmark on Mar 1, 2018 15:59:31 GMT
I think I heard them say at Lendit Conference that they'll abort this because of Brexit. I just checked with them. They are still going through the process of getting FCA approval.
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Post by extremis on Mar 3, 2018 14:30:08 GMT
I think I heard them say at Lendit Conference that they'll abort this because of Brexit. I just checked with them. They are still going through the process of getting FCA approval. This is good news! I would like to increase my investment on Mintos, but hesitated due to total lack of regulation. I hope they get FCA approved soon, so investors are covered by UK investor compensation scheme. Or Latvian law covers p2p investments so we are eligible for compensation in case of Mintos default. Perhaps martins could keep us informed about this crucial matter.
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Post by Deleted on Mar 4, 2018 10:13:08 GMT
I just checked with them. They are still going through the process of getting FCA approval. This is good news! I would like to increase my investment on Mintos, but hesitated due to total lack of regulation. I hope they get FCA approved soon, so investors are covered by UK investor compensation scheme. Or Latvian law covers p2p investments so we are eligible for compensation in case of Mintos default. Perhaps martins could keep us informed about this crucial matter. I do not believe that even with FCA authorisation that we will be covered by UK investor protection scheme.
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p2pmark
Member of DD Central
Posts: 217
Likes: 186
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Post by p2pmark on Mar 14, 2018 18:42:32 GMT
Does anybody have any views as to how robust Mintos' "living will" arrangements are compared to those who are regulated by the FCA? The below, taken from the Mintos FAQ, seems a bit weak to me. It doesn't, for example, say anything about collecting the payments from the loan providers, having enough cash to get through administration etc. "In the unlikely event of Mintos folding, investors will be given full information from the Mintos database on the transactions they have concluded within the framework of the marketplace. The Mintos liquidator or administrator will take all necessary actions to transfer the servicing of all loans and investments to an appropriate manager. In order to ensure the implementation of the aforementioned provision, Mintos and the law firm FORT have entered into a contract of bailment under which each month Mintos transfers data media containing all current data from Mintos to FORT, which accepts the data for storage." As I understand it, Latvian law doesn't regulate p2p at all at present and so there will be no specific legal requirements on Mintos (other than those that all companies face I guess). Grateful for thoughts. This is the one thing that is stopping me from increasing my investment in Mintos at present. |
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