Govt opens consultation on P2P lending in ISAs

It follows an announcement by Chancellor George Osborne at Budget 2014 that the government would make peer-to-peer loans eligible for inclusion within individual savings accounts. Not all loans will be eligible; only those meeting the definition of ‘relevant agreements' as set out in the Financial Services and Markets Act 2000 will be accepted under the plans. As part of the consultation, the government is proposing to make the provision of advice to investors on loans made via peer-to-peer platforms a regulated activity. But this would not mean current FCA-regulated investment adv...