Marketplace Lenders Face More Regulatory Attention

Podcast 67: Brian Korn of Manatt, Phelps & Phillips
– Lend Academy

Lend Academy featured Manatt’s Brian Korn, chair of the firm's digital finance and market lending practice, in a podcast about marketplace lending. When asked about how regulatory framework will change over the next few years, Korn said:

“For the marketplace lenders, it’s really going to come down to cooperation and collaboration. There’s no way around the fact that as interest grows in the space, regulatory attention is going to increase. We’re going to see more inquiries, we’re going to see more follow up letters, we are seeing an increase in the amount of attention that’s being paid to ensure that the thesis you posited at the beginning which is these platforms aren’t banks, you know, this industry has really grown up in an exception world. We’re not banks, we’re not brokers/dealers, we’re not investment advisers, we’re not investment companies.”

Read the article here

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