Harmoney gets first peer-to-peer lending licence

Harmoney gets first peer-to-peer lending licence
By Suze Metherell July 8 (BusinessDesk) - The Financial Markets Authority has awarded its first peer-to-peer lending licence to Harmoney, and expects to license an equity crowd funding platform "shortly". Auckland-based Harmoney is the first platform operator to receive a licence under the new Financial Markets Conduct Act, which came into effect on April 1, providing a regime to match lenders with borrowers, with a $2 million cap on the amount allowed to be borrowed. The new legislation also allows for equity crowd funding, with the poss...