UK P2P Lender Lendy On Regulator’s Watch List

The FCA has placed Lendy under special supervision in January citing concerns about their ability to meet the standards required by firms who are regulated by the FCA; in particular, the FCA is worried about threshold conditions; Lendy will now provide the regulator with regular updates including a weekly report on cash flow and loan recovery; Lendy specializes in property development loans and around 55% of outstanding loans are deemed non-performing or only have been partially repaid. Source

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