FCA publishes its Business Plan for 2020/21

On 7 April 2020, the FCA released its Business Plan for 2020/21. The FCA had planned to focus on the areas identified in its Sector Views published on 18 February 2020 (see our blog post here), but recognises that its work will be fundamentally reshaped by the impact of COVID-19. Aware that the current circumstances create the need for it to both respond to change and initiate it, the FCA outlined plans for transforming fundamentally the way the FCA works and regulates, with a view to becoming a more efficient and effective regulator. Read more

A new regulatory regime for peer-to-peer lending

In June, the FCA published its policy statement on crowdfunding platforms (PS19/14). PS19/14 contains two new sets of rules which apply to: (i) loan-based (P2P); and (ii) investment-based crowdfunding platforms. Prior to this, P2P and investment-based crowdfunding platforms were already subject to the FCA’s High Level Standards, such as the Principles for Business. However, as … Read more