The government is introducing a new Innovative Finance ISA which will be available from 6 April 2016.  This will allow peer-to-peer agreements to be included within an ISA tax wrapper. The FCA published a discussion paper in November 2015 setting out its initial views on changes that would be required within the Handbook. It has now published a consultation paper seeking input on the changes it is planning to make to rules and guidance on disclosure and advice relating to the peer-to-peer agreements.

The government is also planning to amend the Regulated Activities Order to make provision of advice about loan-based crowd funding investments that are peer-to-peer agreements a regulated activity.  See: Draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 published.

Comments are sought by the 15 February 2016 via an online form.