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|P2P industry reacts to Lord Turner's LendIt speech - Kevin Caley, ThinCats|
|Wednesday, 12 October 2016|
Responding to Lord Turner’s speech at today’s LendIt Conference, Kevin Caley, Chairman and Founder of ThinCats, said: “It was encouraging to hear Lord Turner clarify his views on peer-to-peer today, which he referred to as a ‘stable and significant’ part of the UK’s lending environment. In his speech, he emphasised the value of keeping the peer-to-peer model as simple and transparent as possible.
“This simplicity is a quality we’re determined to maintain. As the industry grows up, it’s tempting for platforms to establish banking-style models, but by doing so, you lose the very essence of what makes P2P different and attractive.
“Upholding a high standard of transparency meanwhile, has been part of the P2PFA’s raison d'être since it was founded, and this commitment has been demonstrated by the recently published Oxera report, which offers a candid view of the economic impact of sector and the risks associated with investing.”
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