The Association’s Rules and Operating Principles set out the key requirements for the transparent, fair, robust and orderly operation of peer-to-peer finance platforms and cover:
- Senior management;
- Minimum operating capital requirements;
- Segregation of participants’ funds and auditing of the segregated bank account;
- Appropriate credit and affordability assessment;
- Appropriate anti-money laundering and anti-fraud measures;
- Clear rules governing use of the platform, consistent with these Operating Principles;
- Marketing and customer communications that are clear, fair and not misleading;
- Secure and reliable IT systems;
- Fair complaints handling; and
- The orderly administration of contracts in the event a platform ceases to operate.
The Peer-to-Peer Finance Association is run by a Management Committee, made up of one representative from each member. Christine Farnish acts as the Committee’s independent Chairman.
Membership of the Peer-to-Peer Association is subject to the Rules of the Association and members must comply with the Association’s Operating Principles.
Please click on the links below to download a PDF providing full details of each:
- Rules of the P2P Finance Association
- Bye-laws of the P2P Finance Association
- Operating Principles of the P2P Finance Association