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 systems and controls;
- Minimum capital requirements;
- Segregation of participants’ funds;
- 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, with one member acting as Chairman for one year on a rotating basis. Giles Andrews, CEO of Zopa, will act as the Committee’s initial Chairman. As new members join the Association, their representative will join the Management Committee.
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