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Post by justdabbling on Aug 21, 2016 10:27:48 GMT
There is a link to an article in the Times which alludes to this topic and in any case is of interest. The link is in this forum under 'Ratesetter in the news' but the article actually relates to all P2P, and it suggests that the financial services industry are successfully lobbying politicians and that this may have contributed to the delay in enabling most P2P platforms to offer the IF ISA.
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ablender
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Post by ablender on Aug 21, 2016 15:10:19 GMT
There is a link to an article in the Times which alludes to this topic and in any case is of interest. The link is in this forum under 'Ratesetter in the news' but the article actually relates to all P2P, and it suggests that the financial services industry are successfully lobbying politicians and that this may have contributed to the delay in enabling most P2P platforms to offer the IF ISA. Which one? There are several links in 12 pages of posts. I cannot find the one you refer to. Can you please copy it or link it from here?
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oldgrumpy
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Post by oldgrumpy on Aug 21, 2016 15:23:30 GMT
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Post by dualinvestor on Aug 21, 2016 15:27:21 GMT
There is a link to an article in the Times which alludes to this topic and in any case is of interest. The link is in this forum under 'Ratesetter in the news' but the article actually relates to all P2P, and it suggests that the financial services industry are successfully lobbying politicians and that this may have contributed to the delay in enabling most P2P platforms to offer the IF ISA. It may be the result of lobbying, but I think it is wider and more tied in with the regulation issue. I should imagine that unless and until platforms (all not just SS) get full authorisation HMRC will not permit them to offer ISAs. It would be unthinkable if a IFISA was offerred to someone this tax year and the platform concerned was not fully authorised after it ended that the investors involved would lose their 2016/17 allowance. ablender the link can be found for unregistered Times readers in a latter post by westonkevRS
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 21, 2016 16:58:11 GMT
Personally I suspect that the delay is down to the fact that the FCA is having to deal with umpteen different existing systems, modus operandi etc which mean no two platforms are alike or operate in the same way. Therefore rather than setting a set of rules/standards that everyone has to meet they are having to evaluate how platforms fit/can be made to fit regulations without causing unnecessary disruption to ongoing business. I suspect there is alot of tooing & froing and alot of lawyering going on.
Platforms that start from scratch are getting full authorisation because they build their systems to meet the regulations - the latest is Peer Funding which soft launches in Sept and received full authoristion for 'operating an electonic system in relation to lending' at end of July
Pretty clear no platform can launch an IFISA without full authorisation
MT are now 15m since application and they were amongst the first.
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ablender
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Post by ablender on Aug 22, 2016 10:04:36 GMT
Thanks, I could not see the how the article was related to ISAs at first so I thought I had the wrong one. Got it now.
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jamesc
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Post by jamesc on Aug 25, 2016 14:20:08 GMT
Does anyone have a SIPP invested in SS ?
Also assuming I have not been sniffing CD's brandy I seem to remember some discussion on here about SIPP'S and P2P could someone point me in the right direction.
Thanks
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Liz
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Post by Liz on Aug 25, 2016 15:01:21 GMT
Does anyone have a SIPP invested in SS ?
Also assuming I have not been sniffing CD's brandy I seem to remember some discussion on here about SIPP'S and P2P could someone point me in the right direction.
Thanks Try this link to the SS SIPP page savingstream.co.uk/sipp
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 25, 2016 15:31:39 GMT
Does anyone have a SIPP invested in SS ?
Also assuming I have not been sniffing CD's brandy I seem to remember some discussion on here about SIPP'S and P2P could someone point me in the right direction.
Thanks There was this a while ago p2pindependentforum.com/post/16485/threadIf you search for SIPP it pops up in a few other threads
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