The move is part of a broader crackdown on irregular practices and risks in the P2P sector, and will provide greater protection to investors in online lending platforms.
September 6, 2019The panel has also proposed the development of a marketplace model for P2P lending, and the introduction of virtual banking in India.
September 4, 2019Cutting off payment and settlement services will restrict the funds flowing in and out of P2P lenders, part of a regulatory crackdown on the sector.
September 2, 2019Some managers of privately-offered funds are using capital intended for specific investments on themselves or to illegally operate P2P lending businesses.
August 25, 2019Licensed corporations and their controlling entities are asked to review the legality of the services they offer, and immediately discontinue “unauthorised or illicit activities”.
June 18, 2019While decentralised financial technologies do pose risks, they may increase competition and diversity in the financial system and reduce existing entities’ systemic importance.
June 8, 2019FSS first senior deputy governor Yoo Kwang-yeol in a closed door meeting told Korean financial institutions with units in Southeast Asian countries to offer more localised financial services.
April 22, 2019Only 100 P2P lending platforms are expected to qualify for new licences under the new registration system set to be introduced later this year.
April 18, 2019Since last June, a crackdown on peer-to-peer lenders by China’s Ministry of Public Security, codenamed 'Fox Hunt', has yielded $1.5bn in seized assets and 62 arrests.
February 20, 2019South Korea’s booming P2P lending market is in need of new legislation to enhance protections for investors and borrowers, says FSC chairman Choi Jongku.
February 13, 2019