Post by archie on Jun 24, 2018 6:44:06 GMT
Jun 24, 2018 6:15:04 GMT @dllive said:
HiCan anyone explain the difference between a P2P company having FCA "Interim permission" and "Full authorisation"? What are the benefits to a P2P platform having full authorisation over one that only has interim permission? Should I avoid platforms that only have interim permission? How log does it take a company to go from interim to full authorisation (Im thinking of Ly in particular).
Thanks
When the FCA took over regulation from the OFT, existing licensed platforms were granted interim authorisation while their full application was being processed. New platforms require full authorisation before they can trade.
Article from Bondmason here :- www.bondmason.com/blog/will-fca-regulation-be-saviour-p2p
Only platforms with full P2P authorisation can offer an IFISA.
Some platforms aren't truly P2P so although regulated are under different rules (e.g. LendInvest see Peer2Peer Finance News article here).