UK Bond Network Secures Full FCA Authorisation for P2P Platforms

Peer-to-peer bond platform, UK Bond Network, today received full authorisation as a financial services provider from the UK Financial Conduct Authority (FCA).

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The approval marks the end of a several months’ review in which the company’s processes, systems, policies, levels of Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term have undergone intense scrutiny from the UK’s primary financial regulator.

With this FCA’s authorisation in hand, UK Bond Network will be eligible to deliver regulated products such as the Innovative Finance ISA (individual savings account), which is available only on platforms operated directly by authorised firms.

The IFISA offering, which was announced by the ex-chancellor Chancellor George Osborne, allows investors to benefit from tax-free income from peer-to-peer loans. However, legislations only allows platforms with full authorisation from the FCA to obtain ISA manager status from HM Revenue & Customs.

Having operated under interim permissions since launch, like the majority of peer-to-peer lenders in the country, UK Bond Network has joined a small number of firms which have been fully authorised by the FCA.

Christopher Maule, UK Bond Network's CEO and Founder, commented: "Proper standards are at the heart of our offering, so gaining FCA authorisation fulfills a key element of our growth strategy. We believe this approval will strengthen even further the confidence that our investors and corporate clients have in our platform, services and people.”

“Our focus is and has always been on quality and that remains the case. But full authorisation is a further significant, very positive differentiator for us. We will continue to offer highly attractive investment and lending products on our robust platform, but now to a much wider audience,” he added.