The FCA has published a policy statement on changes to the FCA Handbook relating to the segregation of client money on loan-based crowdfunding platforms and the new regulated activity of advising on peer-to-peer (P2P) agreements (PS16/8). PS16/8 summarises the feedback the FCA received to its consultation papers on these issues (CP16/4 and CP16/5) and provides the FCA's final responses. In particular, the FCA emphasises that the rule changes that allow firms holding money relating to both P2P and business to business (B2B) agreements to elect to hold all lenders' monies relating to this business under CASS 7 are optional. The FCA states that it will separately continue to monitor the UK crowdfunding sector through its supervisory work. This will allow it to identify any market failures and whether further changes are required.