My backgrounder on Lendy collapse which raises fresh questions for FCA's handling of peer-to-peer and broader shadow savings industryhttps://www.thetimes.co.uk/article/novice-investors-believed-lendy-was-safe-as-houses-9xtxk8wh3 …
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Lots of readers in comments section saying they have no sympathy with investors who lost out because risk profile should have been clear from high advertised returns
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A fair (if harsh) point perhaps but my view is if FCA approved firms like LCF and Lendy are hoovering up hundreds of millions of pounds of consumer money and then behaving recklessly with it, we should keep reporting on it
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Replying to @jameshurley
“£192,000 of loan interest owed to investors that administrators said appeared to be missing” - OOF.
3:23 AM - 17 Jul 2019
from Lambeth, London
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msdawnfoster@gmail.com Tusk is the best Fleetwood Mac album. Only care about LFC.