https://www.taxtmi.com/news?id=16197 A tentative, consultative approach favors light-touch regulation for Peer-to-Peer lending platforms to preserve financial inclusion while addressing consumer protection. Prudential measures should be limited and platforms should be prohibited from handling lenders' funds. Emphasis must be on conduct of business regulation: mandatory disclosures, codes of conduct, fit-and-proper standards, KYC and credit assessment, and recovery assistance. Entry, governance, minimum capital guidance, operational risk management, business continuity, technology safeguards and grievance redressal mechanisms are required to maintain trust and continuity. en-us Thu, 19 May 2016 14:58:13 +0530 Thu, 19 May 2016 14:58:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16197 A tentative, consultative approach favors light-touch regulation for Peer-to-Peer lending platforms to preserve financial inclusion while addressing consumer protection. Prudential measures should be limited and platforms should be prohibited from handling lenders' funds. Emphasis must be on conduct of business regulation: mandatory disclosures, codes of conduct, fit-and-proper standards, KYC and credit assessment, and recovery assistance. Entry, governance, minimum capital guidance, operational risk management, business continuity, technology safeguards and grievance redressal mechanisms are required to maintain trust and continuity. News - Thu, 19 May 2016 14:58:13 +0530 https://www.taxtmi.com/news?id=16197