In a speech on balancing regulatory objectives in the consumer credit market, the FCA made reference to the P2P lending sector. The FCA believes that this is an important source of innovation, but it is keeping a close eye on the market to ensure that firms do not create affordability issues for borrowers and credit risk for lenders by lowering underwriting standards. The speech refers to the FCA’s call for input on a post-implementation review of its crowdfunding rules, which was published in July 2016. The FCA is also conducting firm and consumer research to further understand how different parties engage in the market and their needs and understandings. It intends to say more on this in due course.