Lord Adair Turner, former FSA Chair and pointed critic of the UK peer to peer lending industry is scheduled to speak at Lendit Europe in London this fall. Turner, speaking with the BBC earlier this year, made the statement;
“The losses which will emerge from peer-to-peer lending over the next five to 10 years will make the bankers look like lending geniuses.”
It will be interesting to hear if he will stick to these words speaking to the entire UK P2P crowd.
Christine Farnish, Chair of the UK Peer to Peer Finance Association (P2PFA) diplomatically said of Lord Turner’s scheduled appearance;
“Lord Turner is an authoritative speaker on matters relating to financial services regulation and his views on how the opportunities and benefits of peer-to-peer lending can best be encouraged – and risks mitigated – through effective regulation, will be an important contribution to the debate.”
Turner, for his part, stated;
“I am delighted to have this opportunity to speak in more depth about alternative finance, including the fast-growing peer-to-peer lending sector and the opportunities and risks that it may pose as it develops further.”