New lobby group for UK peer-to-peer lenders (36H Group)

  • A new lobby group for UK peer to peer lenders – named 36H – has been formed by Innovate Finance.
  • Innovate Finance is an independent fintech industry organisation in the UK – funded by membership fees from its members.
  • The name 36H refers to article 36H of the Financial Services and Markets Act (FSMA) – under which peer to peer lending platforms are regulated.
  • 36H replaces the previous UK lobby group for the peer to peer lending industry – the Peer-to-Peer Finance Association (P2PFA).
  • All lending platforms licenced under article 36H of FSMA can join 36H.
  • The initial members of 36H are CrowdProperty, Funding Circle, Lending Works, RateSetter and Zopa.