Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

CONC 3.7A Financial promotions and communications: P2P agreements



1This section applies to a firm with respect to operating an electronic system in relation to lending.


  1. (1)

    A firm must, in any relevant communication, indicate the extent of its powers, in particular whether it works exclusively with one or more lenders (including, for example, if it works exclusively with lenders who are participants in the electronic system that the firm operates) or whether it works as an independent broker.

    [Note: article 21(a) of the Consumer Credit Directive]

  2. (2)

    In this rule, a “relevant communication” means a financial promotion or a document which:

    1. (a)

      is intended for borrowers or prospective borrowers; and

    2. (b)

      relates to a P2P agreement:

      1. (i)

        that is, or would be, a regulated credit agreement; and

      2. (ii)

        in respect of which the lender is, or would be, acting by way of business.