Peer to peer platform Kuflink says it will insist that all new and returning investors will have to score 100% on its appropriateness test in order to invest on the Kuflink platform.
The new rules come into force on 9 December.
Narinder Khattoare, Kuflink’s chief executive, thinks that while the rules might seem challenging to some, they are a necessary check to ensure that investor enthusiasm to receive better returns is tempered by ensuring that they understand the implications of that investment to their situation.
He said: “Kuflink already has an excellent record as a platform because we have always taken care to spell out the facts surrounding this type of investment. As a result, our business and that of our investors have flourished.
“The new appropriateness test places a formal procedure in place which magnifies our own efforts to ensure that no one investing with Kuflink is unaware of both the potential for gain as well as the pitfalls.
“Along with the introduction of the appropriateness test, we are planning to place more tools on our website to guide and educate would be investors. Investment of any type should never be undertaken lightly. At Kuflink, we will continue striving to protect investors while maximising the opportunity to maximise their investment.”
