kulerucket
Member of DD Central
Posts: 336
Likes: 93
|
Post by kulerucket on May 16, 2017 7:19:57 GMT
|
|
|
Post by buttchopf23 on May 16, 2017 7:30:05 GMT
All platforms I asked are indeed not worried about the pending legislation change, they welcome it. Clearly I don't know if this is really true and manageable that easy for them. We will see.
|
|
fric
Member of DD Central
Posts: 199
Likes: 79
|
Post by fric on May 16, 2017 8:51:54 GMT
A Latvian here... Yes, platforms actually are looking forward to new legislation because currently there is NOTHING, besides like some generic rules you could apply from standard legislation of consumer protection, lending etc. For a platform there currently is no specific legislation, there is no licensing, no oversight, nothing. In the beginning the banking/financial sector oversight institution in Latvia warned the public that Mintos was only licensed to lend money and not as a p2p platform. Remember those changes to Hipocredit mortgages regarding the claim? I bet that was negotiated due to this when Hipocredit was applying to continue their licence to provide loans. Mintos/Twino have basically worked in a totally gray area of the financial and lending sector, that compared to other business is in no way regulated, has no standards and requirements.
Those aren't really rumors, I think both the ministry of economics as well as the sector in question has said publicly that they are exchanging ideas and working on a proposal for legislation, which should be completed until the end of the year.
|
|
|
Post by darksiege on May 19, 2017 20:27:00 GMT
That amount 450k€ or 500k€ its in case of a plataform default? I dont understand that part. Anyone can help me?
|
|
|
Post by buttchopf23 on May 19, 2017 20:32:38 GMT
Thats the needed equity requirement amount for a platform under new legislation.
|
|