UK Gov wants to regulate the trading pit

Business Insider: 

Britain's finance watchdog is proposing tougher rules on disclosure and transparency for peer-to-peer lending platforms, after a 6-month review into the growing industry.
The Financial Conduct Authority (FCA) on Friday released the initial findings of its review into crowdfunding — a term it uses to cover both crowdfunded equity schemes like Crowdcube and peer-to-peer loan providers such as Funding Circle.
The inquiry, launched in July, found that:

• It's difficult to compare platforms to each other;

• Risks are hard to assess;

• Financial promotions do not always meet requirements to be "clear, fair and not misleading;"

• Increasingly complex structures are introducing new risks and conflicts of interest;

Provision funds, which platforms like RateSetter offer to cover a certain amount of investor losses, "introduce risks to investors that are not adequately disclosed and may not be sufficiently understood by investors;"Wind-down plans, put in place to take care of loans in case firms go bust, are not adequate;Some platforms client money handling standards are not up to scratch.

OK, no problem here.  One cannot get a more transparent system than the trading pit, theoretically impossible, everyone still has to run the graph.  Risks are easy to asses,read the pit boss code, watch the bit error accumulation, an run snooper bots to spot inconsistencies.. The structure is not complex, it is a few hundred line of python code that implement a iterator on a nested block probability graph. Everything is adequately disclosed, in fact, take the code and run it through an off line evaluation.

So, the answer i, trading pit is how it i done in the future.  The major complaint will not be fairness, it will be a bunch of socialist welfare bums from Silicon Valley who want to rig the graph.