Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Regulator warns of P2P lending risks

Regulator warns of P2P lending risks

ASIC has provided guidance to peer-to-peer (P2P) lenders on their regulatory obligations and highlighted the key risks associated with their products.

The corporate regulator has made available an information sheet that describes the current regulatory regime for P2P lenders (also known as ‘marketplace’ lenders). The information sheet also details the key risks they face in providing P2P products, as well as good practice strategies they may consider adopting.

ASIC commissioner John Price said P2P lending is a new and innovative concept and the information sheet is an example of how ASIC’s Innovation Hub is helping innovative businesses understand their regulatory obligations to support their growth and development in Australia.

Advertisement
Advertisement

“Adopting some of these good practices can help investors understand the product and risks and build community trust and confidence in marketplace lending more generally,” Mr Price said.

ASIC is also encouraging fintech start-ups to apply for help from its Innovation Hub if they meet eligibility criteria.

[Related: Treasurer makes fintech pledge]

Regulator warns of P2P lending risks
mortgagebusiness

 

Latest News

Interim CEO of BOQ Anthony Rose has told ASIC that the revised responsible lending guidance must remove incentives for lenders to lower stan...

Approximately 32 per cent of young Australians expect to purchase a home in the next five years. However, their aspirations are not driving...

Impact of moderating house prices and the conversion of a large number of interest-only loans on delinquencies will be “limited” in the ...

FROM THE WEB
podcast

LATEST PODCAST: Results season rolls on

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.