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Post by stuartassetzcapital on Sept 5, 2017 12:32:27 GMT
Just to let you all know. It's in the press.
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rick24
Member of DD Central
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Post by rick24 on Sept 5, 2017 12:34:10 GMT
Just to let you all know. It's in the press. Good news...I was beginning to wonder. Looking forward to the IFISA.
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Post by keyboardworrier on Sept 5, 2017 12:35:16 GMT
Good news, I was waiting for this! I can finally ditch my current ISA which pays 1.7% for 5 years.
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registerme
Member of DD Central
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Post by registerme on Sept 5, 2017 13:44:45 GMT
Congratulations  . |
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dermot
Member of DD Central
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Post by dermot on Sept 5, 2017 15:25:13 GMT
Congratulations!
I still have £10K of this year's ISA unused ... hint.
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m2btj
Member of DD Central
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Post by m2btj on Sept 5, 2017 16:12:27 GMT
Congratulations! Let's all hope that this is the start of something big for AC & clients.
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ashtondav
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Post by ashtondav on Sept 5, 2017 16:15:23 GMT
Does this mean you'll let us know when the PF will pay out on defaulted loans, perhaps in the same way RS does? And also assume it no longer has to be "discretionary" as that was a cautious interpretation of FCA requirements. In fact can we also assume there was discussion about the use, validity and application of PF in p2p.
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jonah
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Post by jonah on Sept 5, 2017 17:15:08 GMT
Just to let you all know. It's in the press. Good news...I was beginning to wonder. Looking forward to the IFISA. What he said. Seriously, well done to all involved, have a celebrity drink or similar, but then unleash the 'wall of cash' which is no doubt waiting for the isa.
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Post by mrclondon on Sept 5, 2017 17:30:18 GMT
Yes, very good news, and banishes those niggling doubts about whether the FCA had serious concerns with specific aspects of the business model. Well done to the whole AC team for reaching this point.
In addition to the much anticipated IFISA which should follow later this year, I wonder whether this news will assist in bringing the long running Series A funding round negotiations to a successful conclusion, and the establishment of a new valuation for AC.
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Post by stuartassetzcapital on Sept 6, 2017 6:22:54 GMT
Does this mean you'll let us know when the PF will pay out on defaulted loans, perhaps in the same way RS does? And also assume it no longer has to be "discretionary" as that was a cautious interpretation of FCA requirements. In fact can we also assume there was discussion about the use, validity and application of PF in p2p. Hi, there is no plan to make the PF non-discretionary. The legal reasons for this remain unchanged. The level of funding we target is designed to cover payouts in all expected loss situations however that is a calculation not a promise and the defaults web page gives you the coverage ratios that show the PF's ability to do so in both current and stressed conditions. We aren't a bank so can't guaranateee anything but equally we run the business in a way to seek to have full coverage.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Sept 6, 2017 13:07:51 GMT
I must say I am a bit surprised about this......there are so many 'issues' that need to be resolved.......eg when should a loan be removed from the live page and hidden away on the repaid page!
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