Peer-to-peer lending providers
Licensees have a number of on-going obligations, in addition to the minimum standards and standard conditions set out in their licence. These obligations include notifying the FMA of certain events and providing us with information.
All notifications should be emailed to the FMA at firstname.lastname@example.org, noting the relevant obligation in the subject line of your email.
If you want to set up a peer-to-peer lending service so you can act as an intermediary between borrowers and lenders, you will need to apply for a peer-to-peer lending service licence.
To become a licensed peer-to-peer lending provider you'll have to meet and maintain certain minimum standards. The key standards in the Act (section 396) include:
There will also be other important requirements. You can find out more about the minimum licensing standards and conditions in our licensing guide.
As a licensee you will also have on-going obligations. For example you must:
There will also be a number of other important obligations.
If we grant you a licence it will contain conditions that support your market services licensee obligations. These will include conditions imposed by the FMC Act and regulations, as well as conditions imposed by FMA. Find out more about the standard conditions for peer-to-peer lending services.
In your application you'll need to demonstrate that you can meet these conditions - or ask us for a limit or variation in your licence.
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