This is to protect investors and ensure they are aware of what they are doing, as well as adhering to the FCA’s new upcoming P2P rules.
Peer-to-peer (P2P) platform Kuflink will insist that all new and returning investors will have to score 100% on its appropriateness test in order to invest on Kuflink’s platform.
The Financial Conduct Authority (FCA) is introducing new rules for the P2P market on 9 December.
These include the requirement that platforms assess investors’ knowledge and experience of P2P investments where no advice has been given to them and set out the minimum information that P2P platforms need to provide to investors.
Narinder Khattoare, chief executive at Kuflink, said: “Kuflink already has an excellent record as a platform because we have always taken care to spell out the facts surrounding this type of investment.
“As a result, our business and that of our investors have flourished.
“The new appropriateness test places a formal procedure in place which magnifies our own efforts to ensure that no one investing with Kuflink is unaware of both the potential for gain as well as the pitfalls.
“Along with the introduction of the appropriateness test, we are planning to place more tools on our website to guide and educate would be investors.
“Investment of any type should never be undertaken lightly. At Kuflink, we will continue striving to protect investors while maximising the opportunity to maximise their investment.”
