Tagged: regulations

August 5, 2016 @ 11:46 am By JD Alois  |  

Earlier this week PwC (under the DeNovo label) published a wide-ranging report on the evolution of Fintech. The document was the production of many PwC executives covering topics like blockchain, payments, banking and the overall transformation of financial services. In one respect the report is… Read More

August 1, 2016 @ 9:14 pm By JD Alois  |  

The Swedish government announced last week it had appointed a commission to investigate crowdfunding and the potential for improved opportunities to provide access to capital. Swedish Finance Minister Per Bolund stated there was a need for innovative solutions for the funding of small and emerging… Read More

July 31, 2016 @ 7:44 pm By JD Alois  |  

Last week the Payments Systems Regulator (PSR) announced that reform is needed in the UK payments sector to improve competition and better serve consumers.  The announcement was made by the one-year-old agency following a report on payments released by the PSR. The PSR stated that there… Read More

July 29, 2016 @ 8:29 am By JD Alois  |  

Even while Brexit pushes pause on so many policy issues, the implementation of Markets in Financial Instruments Directive “II” (MiFID II) moves forward in the UK. The MiFID is a collective regulatory approach to streamlining the purchase and sales of securities across Europe. MiFID II… Read More

July 27, 2016 @ 10:34 pm By JD Alois  |  

  Canada is the second largest country in the world by land mass and the 10th largest economy by nominal GDP. At around 35 million in total population, Canada is a country that has consistently punched above its weight class economically. The extensive border with… Read More

July 27, 2016 @ 10:42 am By JD Alois  |  

The Alberta Securities Commission (ASC) in Canada has published two initiatives designed to facilitate capital-raising for SMEs. First, the ASC has adopted ASC Rule 45-517 Prospectus Exemption for Start-up Businesses (ASC Rule 45-517). Immediately available, the new rule provides a prospectus exemption for small Alberta companies… Read More

July 27, 2016 @ 10:19 am By JD Alois  |  

The Online Lenders Policy Institute is hosting its first “Marketplace Lending Policy Summit” in Washington, DC in September and they have two marquee names headlining the event. Congressman Patrick McHenry, an author of the JOBS Act and Fintech champion, will be one of the keynote… Read More

July 26, 2016 @ 9:14 am By JD Alois  |  

The UK Peer to Peer Finance Association has released a letter addressed to Andrew Bailey, Chief Executive of the FCA, buttressing their position regarding the recent dialogue with the House of Commons’ Treasury Select Committee. This past June, Andrew Tyrie, MP, Chairman of the Committee,… Read More

July 25, 2016 @ 1:46 pm By JD Alois  |  

Gillian Roche-Saunders, is a partner at the law firm of Bates, Wells & Braithwaite in London.  She is a leading regulatory consultant in the Fintech sector having been engaged in alternative finance for the past five years – before the FCA jumped in to officially… Read More

July 17, 2016 @ 11:57 am By Robert Wardrop & Tania Ziegler  |  

  Across Europe, crowdfunding is quickly moving from a fringe funding instrument to becoming a mainstream – finance channel, connecting “crowds” to fund businesses, projects and individuals. In its recently published Report on Crowdfunding in the EU Capital Markets Union, the European Commission details the… Read More

July 14, 2016 @ 2:12 pm By Thomas Howard  |  

The Financial Conduct Authority (FCA) will look to ensure that consumers are sufficiently protected against the risks inherent in crowdfunding while supporting innovation in the growing market in a forthcoming review of its regulation of the industry. Crowdfunding rules were introduced by the FCA in… Read More

July 13, 2016 @ 2:36 pm By JD Alois  |  

The Securities and Exchange Commission proposed rules today to streamline and simplify certain disclosure requirements to “eliminate redundant, overlapping, outdated, or superseded provisions.” SEC Chair Mary Jo White commented on the proposal; “The proposed amendments address outdated and redundant disclosure requirements while continuing to require… Read More

July 12, 2016 @ 9:34 am By JD Alois  |  

As the regulatory interest rises, Fintech firms are preparing to deal with the additional scrutiny and possible new rules. Online lending SaaS solution, Cloud Lending, has hired Ileana Falticeni as its new Vice President of Compliance and Regulations to help manage the impending regulatory risk…. Read More

July 9, 2016 @ 2:54 pm By JD Alois  |  

In 2014 the Financial Conduct Authority (FCA) enacted new rules for the regulation of crowdfunding platforms operated by firms authorized by the FCA. At that time, the agency committed to carrying out a full post-implementation review of the crowdfunding market and regulatory framework in 2016…. Read More

July 8, 2016 @ 11:52 am By JD Alois  |  

As announced earlier today, the Financial Conduct Authority (FCA) has requested feedback from interested parties regarding the regulatory environment for debt and investment-based crowdfunding. The process is part of an anticipated periodic review of this new form of finance. Original rules were enacted in 2014…. Read More

July 8, 2016 @ 8:43 am By JD Alois  |  

The UK Peer to Peer Finance Association (P2PFA) has released a comment on the forthcoming review of crowdfunding rules by the Financial Conduct Authority (FCA). The P2PFA called the post-implementation review of crowdfunding rules an opportunity to ensure an appropriate balance of regulation protecting investors… Read More

July 8, 2016 @ 8:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced a “call for input” in preparation for an expected review of existing crowdfunding regulations in the UK. The FCA will be revisiting rules surrounding investment based crowdfunding including both debt and equity. In early 2015, the FCA conducted an… Read More

July 7, 2016 @ 4:00 pm By Therese Torris  |  

The Kleinanlegerschutzgesetz (Small Investor Protection Act), the law regulating crowdfunding in Germany went into force on the 10th of July 2015. A year after, the German Crowdfunding Association takes stock of its positive impact on the German crowdinvesting market and points to strong needs for… Read More

July 6, 2016 @ 5:34 pm By JD Alois  |  

The State of Washington has adopted rules requiring companies raising capital under Reg CF to submit notice filings, along with a fee, if the company’s principle place of business is the state of Washington.  The rule also requires a notice filing if over 50% of… Read More

July 1, 2016 @ 10:50 am By JD Alois  |  

The state of North Carolina appears to be ready to get their own investment crowdfunding exemption. It has taken several attempts by advocates and certain legislators but it seems the stars finally aligned as the most recent initiative was approved by the North Carolina Senate…. Read More