Retail Money Market

Retail Money Market Ltd (FRN 722768) previously traded under the RateSetter brand and operated a peer-to-peer (P2P) consumer lending platform. The FCA Register shows the firm as 'No longer authorised' (effective 20 June 2023) and warns that 'some activities by this firm may not be protected'. The primary domain retailmoneymarket.com is currently offline / listed for sale.

So what: the firm cannot accept new regulated business and is not a viable route for new investments. Existing customers should rely on the regulator's guidance for any wind-down or claims process.

Historically, Retail Money Market Ltd operated as a P2P platform matching individual and institutional lenders with consumer and SME borrowers, taking fees for intermediation and providing credit assessment and collections. Past FCA permissions covered arranging and facilitating credit agreements. Because the firm is no longer authorised, it cannot accept new regulated business — consumer protections tied to active regulated status do not apply to new transactions.

Retail Money Market Ltd does not currently offer any regulated investment products or services; it is not possible to open new investment accounts through this entity. Historically, the platform offered exposure to consumer and SME loans with returns derived from borrower interest payments. Note this is distinct from a retail money market fund (MMF), which invests in short-term high-quality debt instruments — the firm name is not a product description.

Given its inactive status, the platform is not suitable for new investors. Historically it targeted retail and institutional lenders accepting higher credit and liquidity risk than bank deposits. P2P loans generally do not benefit from FSCS cover in the same way as bank deposits; the FCA Register's general guidance about Ombudsman / FSCS routes for firms no longer providing regulated activities does not guarantee cover for all past activities.