advising on P2P agreements

131the regulated activity, specified in article 53(2) of the Regulated Activities Order (Advising on investments), which is in summary: advising a person if the advice is:

1. (1) given to the person in their capacity as a lender or potential lender under a relevant P2P agreement or in their capacity as an agent for a lender or potential lender under a relevant P2P agreement; and
2. (2) advice on the merits of their doing any of the following (whether as principal or agent):
   1. (a) entering into a relevant P2P agreement as a lender or assuming the rights of a lender under such an agreement by assignment or operation of law; or
   2. (b) providing instructions to a P2P platform operator with a view to entering into a relevant P2P agreement as a lender or assuming the rights of a lender under such an agreement by assignment or operation of law, where the instructions involve:
      1. (i) accepting particular parameters for the terms of the agreement presented by a P2P platform operator; or
      2. (ii) choosing between options governing the parameters of the terms of the agreement presented by a P2P platform operator; or
      3. (iii) specifying the parameters of the terms of the agreement by other means; or
   3. (c) enforcing or exercising the lender’s rights under a relevant P2P agreement; or
   4. (d) assigning rights under a relevant P2P agreement.

In this definition “relevant P2P agreement” means an article 36H agreement (within the meaning of article 36H of the Regulated Activities Order) which has been, or may be, entered into with the facilitation of a person carrying on an activity of the kind specified by article 36H(1) or 36H(2D) of the Regulated Activities Order.