CFP-1.1.7
(a) The eligibility criteria for borrowers/lenders and issuers/investors that use the platform;
(b) Arrangements and safeguards for client money held or controlled by the operator, including details of any legal arrangements (such as nominee accounts) that may be used to hold client money;
(c) What will happen if loans sought by a borrower or funds sought by an issuer either fail to meet, or exceed, the target level;
(d) Steps the operator will take and the rights of the relevant parties if there is a material change in a borrower’s or an issuer’s circumstances;
(e) How the operator will deal with overdue payments or a default by a borrower or failure of an issuer; and
(f) Which jurisdiction’s laws will govern the financing agreement.
Added: April 2022