Marketplace lenders who want to stay on side with the regulator need to play close attention to the presentation of their advertising, the risk warnings in their disclosures and the security of their websites.John Price, a commissioner at the Australian Securities and Investments Commission, told delegates at the AltFi Australasia Summit in Sydney yesterday that it was important for investors and borrowers to have clarity about the roles and responsibilities of all parties involved in marketplace lending.Price said that, to the extent advertising included quantitative references to creditworthiness, there should be explanation of what ratings such as 'AAA' mean.He said it was not appropriate for marketplace lenders to make comparison between products they offer investors and banking products such as term deposits and savings accounts. "Comparing marketplace lending products with prudentially regulated products offered by banks is not comparing apples with apples," Price said.Aside from advertising, investors should be provided with a risk warning statement and lenders should consider offering investors an optional online test to see if they understood the product before investing.Investors should be informed about the policies and procedures for managing the selection of borrowers and the ongoing monitoring of loans.On the issue of cyber security, Price said: "Marketplace lending depends heavily on the internet and electronic transactions. So we strongly encourage providers to consider ASIC's Report 429 on cyber resilience."Price said ASIC had set up an internal taskforce on marketplace lending that will monitor industry developments. The taskforce's work is an element of ASIC's Innovation Hub, which is intended to streamline the regulator's approach to dealing with companies that have innovative business models.