Chairman of the Treasury committee Andrew Tyrie has asked the regulator to look at how it could curb risks in the crowd funding and P2P lending markets.
In a letter to Financial Conduct Authority (FCA) acting chief executive Tracey McDermott, Tyrie (pictured) asked the regulator to set out its approach to risks and opportunities for consumers in the growing sector. He asked the FCA to clarify who is responsible for ensuring accurate information is conveyed to potential investors through crowdfunding platforms and if sufficient incentives are placed on the platforms to assess the creditworthiness of borrowers and firms seeking investment. He also asked the FCA to explain its assessment of consumers' understanding of the risk associated...
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