 |
answer text |
<p>The Government has regular conversations with the Financial Conduct Authority (FCA),
the peer-to-peer (P2P) lending sector and other Fintech organisations on a range of
topics, including the FCA’s proposed new rules for P2P lending.</p><p> </p><p>The
Government has implemented a proportionate, principles based regime for P2P lending
that balances the need for consumer protection with allowing the sector to grow and
evolve. As the FCA’s CP18/20 makes clear, P2P lending is an increasingly important
source of finance for small businesses, and the Government remains supportive of the
industry. As the independent conduct regulator for the financial services industry,
the FCA is best placed to set the appropriate regulatory requirements for P2P lending.</p><p>
</p><p>The UK has been independently ranked by EY and Deloitte as the world’s leading
hub for Fintech – the best place in the world to start and grow a Fintech firm. The
Government is committed to ensuring that it remains the best place in the world for
Fintech, and has set out how it intends to do that in the ambitious Fintech Sector
Strategy, launched in March 2018.</p>
|
|
