New regulations - consolidation - CEO message

Hi Assetz, very pleased to receive your positive message about confidence in the present and intentions for the future. All new sectors have a shakeout, where the weak players and poor business models are weeded out, but that usually results in extra business to the survivors - the fittest - which in my book definitely includes Assetz, in market share, in having a model matched to the market, and in business performance. Personally I have spent the last year moving funds to Assetz, and intend to keep them there.

But the current situation for p2p is tough, and while you might have to welcome the FCA, I do not. The normal business shakeout is tough enough, in that confidence in the sector has to be maintained for the strong players to survive. FCA's past performance has been sub-optimal, Coll as the obvious case. But the reaction, encouraged by siren voices from established and bailed-out competing sectors, seems to have been to swing to the precautionary extreme at a difficult time for a very small sector. It may be the case that, as Nietzsche said, that which does not kill you makes you stronger, but that does not excuse those who seem to wish to strangle the infant sector.