SFIG Marketplace Lending Committee Launches “Best Practices” Initiative

Following the launch of SFIG’s Marketplace Lending Committee in summer 2015, and its subsequent September 30th response to the Treasury Department’s Request for Input, the Committee’s agenda will now advance to the establishment and documentation of recommended market best practices.

The initiative is rooted in the Committee’s core mission, which is to support the responsible growth of securitization in the marketplace lending sector.  As stated in our September comment letter, “while we expect industry standards to evolve for this market, we firmly believe that for the various asset classes involved there are comprehensive sets of regulation and industry standards already in place”.

The best practices initiative will seek to identify a framework of such regulations and standards and work methodically to identify gaps in application or understanding with a view to establishing industry consensus and providing recommendations around one or multiple accepted approaches.  The initiative will demonstrate the industry’s commitment to effective self-regulation and may impact the scope and content of future regulatory proposals.

Our initial work-stream will focus on loan/pool level disclosure and reporting.

We will be holding a kick off call during the week of February 8th. To register for the Marketplace Lending Committee and to secure an invitation to the upcoming call, please contactJennifer.Wolfe@sfindustry.org.

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