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Today’s FCA announcement

Earlier today, the FCA published interim feedback on its post-implementation review of the loan-based crowdfunding (that’s what we do) and equity-based crowdfunding market.

The feedback is that it plans to consult on some of the rules governing our sector, to ensure that investor protection is appropriate while continuing to promote effective competition.

We believe that an effectively regulated peer-to-peer lending industry is the best way to help us reach more customers, treat them fairly and help them build richer lives. Zopa has lobbied hard for our sector to be regulated, and we look forward to working with them through the consultation process to ensure regulation is fair and appropriate for consumers.

What was today’s report?

When our industry’s interim regulatory permissions were announced in 2014, the FCA planned to perform a post-implementation review after two years. They called for input into this process over the summer, and we spent a week working closely with their representatives to help them gain a better idea of our business and how it operates.

Today they released their interim feedback on the post-implementation review. It’s not all directly applicable to us, as they also include their findings on equity-based crowdfunding.

Consultation on the rules will take place early next year, with the post-implementation review scheduled to be completed early in 2017.

Our regulatory application

This process is independent of our application for fully authorized status, and we continue to work closely with the regulator on our application.

Image credit: By Diliff (Own work) [CC BY-SA 3.0 ( or GFDL (], via Wikimedia Commons