1.UK – P2P
“FIRMS should prepare for the possibility of a no-deal Brexit, says the Financial Conduct Authority (FCA), as it launches a dedicated helpline for businesses.
The City watchdog, which oversees the peer-to-peer lending market as well as the rest of the financial servcies sector, says firms who have not prepared appropriately for the UK leaving the EU without a deal may see an impact on their business.
“Firms should also consider any regulatory changes that could apply in the event of no deal,” the FCA said. “For example, MiFID II transaction reporting will change and firms should be ready to implement this.”
The FCA is launching a series of web adverts along with the free 0800 number for concerned companies who do business in Europe.
“We expect firms to ensure they are ready if there is a no-deal,” warned Nausicaa Delfas, executive director of international at the FCA. “If firms haven’t finalised their preparations, there is a risk they could be impacted.”
2. UK – P2P / Real Estate
“Property Partner launched in 2014 with an ambitious plan to create a “stock exchange for residential property” and democratise investment in the UK housing market.
The company raised over £27m in equity finance from some of London’s most prestigious venture capitalists, including Index Ventures, Octopus Ventures and Dawn Capital.
However, in July the company announced a shake-up both of management with the departure of CEO Marshall King after only a year in post, and in business models with the introduction of a raft of new fees which knocked the value of its £141m property portfolio.
Last week newly appointed CEO Warren Bath (pictured) spoke to AltFi exclusively about the headwinds Property Partner has faced since 2016 and his plans to shore up the loss-making business.”
3. UK – AltFi
- 937 investors poured money into Secured Energy Bonds after a 2013 launch
- The bonds were unregulated but rubber-stamped by an FCA-regulated firm
- In January 2015 the bonds failed and investors lost their cash
- However after a four year battle investors are now receiving compensation