Later this week, the FCA will provide an update on crowdfunding rules as well as P2P lending. Online peer-to-peer lender Lendy has entered administration. The Financial Conduct Authoprity agreed to the appointment of joint administrators Phillip Sykes , Phillip Sykes and Lendy . Lendy offered a platform for crowdfunded asset-backed secure loans. It is thought approximately 22,000 investors have £165m ( $209m ) in capital at risk. FCA 's collapse sparked speculation about the viability of other P2P lenders, coming ahead of an update from the FCA about rules for crowdfunding and P2P lenders.
Online peer-to-peer lender Lendy has entered administration. The Financial Conduct Authoprity agreed to the appointment of joint administrators Phillip Sykes , Phillip Sykes and Lendy . Lendy offered a platform for crowdfunded asset-backed secure loans. It is thought approximately 22,000 investors have £165m ( $209m ) in capital at risk. FCA 's collapse sparked speculation about the viability of other P2P lenders, coming ahead of an update from the FCA about rules for crowdfunding and P2P lenders.