Figures from the Financial Conduct Authority show that scores of operators are in the process of applying for regulatory authorisation. As of December 28, 56 firms had either “interim permission” or full authorisation from the FCA to operate a peer-to-peer lending platform. There are 68 applications for new or varied authorisation being considered. A senior industry source, who asked to remain anonymous, claimed that of these applications, he was aware of just four that had any commercial “reason to exist”.

http://www.thetimes.co.uk/article/58f583ba-e195-11e6-802a-dc53f5401bb9