Mucho P2P
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Post by Mucho P2P on Apr 19, 2019 12:48:20 GMT
I couldn't find any info on that. Could you give me a link to further details somewhere on the web, please? Pretty sure Lendy cant lend themselves because it wouldnt comply with Article 36H which defines a p2p loan and if it didnt meet the criteria then it wouldnt be a P2P loan. if it wasnt a P2P loan then they would need article 14 permission 'dealing in investments as a principal' (plus others to actually operate) which they dont have (and wouldnt get I suspect)
Not sure what Cat 730 is though it might be IFPRU 730k but I dont think that is relevant in this context.
Sorry for that, Cat 730 [IFPRU] is the trade term for a licence to deal on ones own account, mainly used by FX brokers and banks who will trade against / hedge against or with their own accounts and their clients accounts. 730, as traditionally 730k Euros were needed to be held in a separate segregated account as a safety buffer. Liam can most definitely "invest" or "lent" into his own products, as this has already been ascertained by several Compliance queries I have undertaken in relation to myself lending on my own account should I take a +9.9% stake in a P2P platform. I do not believe there are any specific regs that prohibits a 36H company also maintaining a Cat730 licence or vise versa. Many financial firms in the city maintain more than one regulatory licence.
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sydb
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Post by sydb on Apr 19, 2019 19:39:59 GMT
But if P2P is only P2P if lent to an individual or only under £25k for business to use then wouldn't that exclude many loans through P2P platforms from being classed as P2P?
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toffeeboy
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Post by toffeeboy on May 2, 2019 12:31:05 GMT
But if P2P is only P2P if lent to an individual or only under £25k for business to use then wouldn't that exclude many loans through P2P platforms from being classed as P2P? Whilst a lot of these new sites call themselves P2P sites they aren't as you correctly state, the "P2P" world has diversified to include Peer to Business, Business to Business, Peer to Property Holding Company and many others whilst not changing from being called anything different.
There are still a few true P2P sites out there but as far as I know the returns aren't as good as ones that aren't true P2P.
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