P2P Finance Policy Summit

Everyone seemed to enjoy the Peer-to-Peer Finance Policy Summit on Friday. Huge thanks to our hosts, panellists and all in attendance for putting so much effort into a great discussion. There will be de-brief at The Finance Innovation Lab tomorrow and a summary of the output from the summit should be available shortly [now here]. In the meantime, I've embedded my presentation below.

A pan-EU version of the Open Letter will be available this week to support a series of other events that are occurring in Europe.

As I mentioned on the day, this event grew out of a session at the Finance Innovation Lab in March on whether disruptive policies can help deliver a sustainable financial system. We thought that financial innovation could be fostered through a series of such forums involving representatives of IT, marketing, finance, operations, legal and so on, as well as platform participants, regulators and policy-makers. Proportionate self-regulation and formal regulation could evolve through this process, as considered necessary. Such 'co-regulation' already has successful parallels in contexts such as broadcasting and advertising, to name but a few, and it will be interesting to see the extent to which such a process develops here.

We may even see some counter-regulation, where offline businesses are required to implement the benefits of successful online business models, as in the case of midata.

How P2P Finance Models Work: Risks, Controls and Regulatory Barriers from Simon Deane-Johns