Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

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

The corporate regulator has proposed to use its product intervention powers to address “significant detriment” caused by continuing cre...

The federal government’s fund manager has paused investment rounds on the $2-billion Australian Business Securitisation Fund in light of c...

The banking sector’s commitment to extend loan repayment holidays for distressed borrowers could prolong the deterioration in credit quali...

FROM THE WEB
podcast

LATEST PODCAST: Support for current broker remuneration model

Do you expect COVID-19 to reduce or increase your business flows?

Website Notifications

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