Lending Works has received full FCA authorisation

18th October 2016

Lending Works has received full FCA authorisation


Lending Works has, as of the 13th of October, received full authorisation permissions from the FCA, and in doing so becomes the first major P2P platform (and member of the P2PFA) to do so.


Nick Harding, CEO and Founder of Lending Works commented: 


“To receive FCA full authorisation marks a momentous day for Lending Works. This achievement is the culmination of what has been an intensive journey for us over the past year and vindicates all that we do and stand for as one of the UK’s leading P2P platforms. It also firmly validates our processes, systems, policies, financials and levels of compliance and risk management.

Fair and accessible financial services that uphold the highest standards in both service and governance is a guiding principle of our business.  Therefore, we have always supported greater regulation in this sector and welcomed the FCA’s review.  The authorisation process is a positive move that will give better protection to consumers, ensure greater transparency and accountability in our sector and will ultimately help grow the profile of peer-to-peer lending in the UK as a genuine, strong and competitive alternative to mainstream, traditional lenders.”



Previously, all platforms that existed prior to April 2014 had been subject to an interim FCA authorisation. Whilst being fully regulated, but not authorised, this meant that the much vaunted Innovative Finance ISA (IFISA) was not readily available (as P2P firms needed to also be fully authorised in order to apply for HMRC approval to set up as HMRC ISA Managers).


Now with Lending Works being the first of those who had interim permission to have now become fully authorised and heading for HMRC approved ISA manager status, we expect several more will be announced in the coming months, opening up choice and variety for investors looking for the new IFISA.




Your capital is at risk if you lend to businesses. Peer to peer lending is not protected by the Financial Services Compensation Scheme. Please read our full risk warning here.