Funding Circle responds to final FCA regulation
06 March 2014
In response to the final peer-to-peer lending rules published today by the Financial Conduct Authority, James Meekings, co-founder of Funding Circle said:
“The introduction of proportionate regulation will be a step-change for the industry and will cement our position within the wider financial landscape. The FCA has shown foresight in striking the balance between enabling the industry to continue to flourish while ensuring the protection of investors and borrowers.
“Peer-to-peer lending is now a £1billion industry and it is predicted to grow to over £12billion per year within the next decade. Funding Circle alone is currently facilitating £20million of loans every month so it’s only right that a industry of this size becomes regulated, giving consumers even more confidence that peer-to-peer lending is here to stay.”