ZOPA’S chief executive has said that proposed investor marketing restrictions are appropriate for platforms that offer riskier manual lending opportunities but not for them.
Jaidev Janardana (pictured) said that when an investor is lending against one property or one business, this could be riskier and “we need to make sure investors are sophisticated when they make these decisions”. But Zopa offers investors a diversified pool of assets so “we do not think that marketing restrictions would be appropriate [for us],” he said at LendIt Fintech Europe conference in London. Zopa has relayed this back to the Financial Conduct Authority (FCA), he added. Peer-to-peer consumer lender Zopa, like the rest of the ‘big three’, does not offer a manual lending option, meaning that investors’ funds are automatically diversified across a portfolio of loans.
http://www.p2pfinancenews.co.uk/2018/11/19/zopa-ceo-proposed-marketing-restrictions/
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