The Transparency Taskforce (TTF) has invited investors from collapsed peer-to-peer lending platforms to join a march in London that it is organising to protest the City regulator’s conduct and failure to protect consumers.
The march will take place on Tuesday 24 May at 2.15pm in central London. It will end at the Houses of Parliament, where a petition will be handed in, calling for greater scrutiny and accountability for the Financial Conduct Authority (FCA).
The organisation, which was founded by Andy Agathangelou to encourage better transparency in financial services, said the march was to protest about the FCA “conduct and its chronic and catastrophic failure” to provide an appropriate degree of consumer protection, over many years.
It said the march will be open to all but will be particularly relevant to people that have suffered due to collapsed P2P lending platforms such as FundingSecure, Lendy, Collateral, MoneyThing and The House Crowd.
The TTF also noted that the march might be relevant to consumers who have suffered because of mini-bond providers or lenders that have gone into administration or left the retail lending space, such as London Capital & Finance, Wellesley Finance, Basset & Gold and Blackmore Bond.
“There is going to be a march in London to protest about the FCA’s conduct and its chronic and catastrophic failure to provide an appropriate degree of consumer protection, over many years,” TTF said on Twitter.
“The march is open to all but will be particularly relevant to people that have suffered due to: Barclays, Basset & Gold, Blackmore Bond, Capital Index, Clydesdale, Collateral, Connaught, Dolphin, FundingSecure, HBOS High Street Group, The House Crowd, insolvency fraud, KeyData, LCF, Lendy, LBG plc, Moneything P2P, Northern Rock, Premier FX, RBS, Ready to Invest, VirginMoney, Wellesley Finance, Westway, Woodford, [and] World Class Global Consultants.”
The TFF added that the march may also be relevant to “victims of the dozens of pension scams including Ark, ParkFirst, StoreFirst etc”, as well as mortgage prisoner victims, and victims of misleading APRs or insolvency fraud.
The FCA has been contacted for comment.