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<p>The Government believes that peer-to-peer platforms can deliver innovative forms
of finance for both consumers and business that can provide competition in the marketplace
and, as such, is keen to see the sector continue to grow and evolve while ensuring
that consumers are adequately protected.</p><p> </p><p>The Government continues to
monitor the development of the sector and engages regularly with peer-to-peer platforms
to understand their business models. We do not directly monitor the rates of return
offered.</p><p> </p><p>The Financial Conduct Authority (FCA) is operationally independent
from Government. The question as it relates to the FCA has been passed on to the FCA.
The FCA will reply directly to Lord Myners by letter. A copy of the letter will be
placed in the Library of the House.</p>
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