Tagged: regulations

June 26, 2016 @ 4:03 pm By JD Alois  |  

The United Kingdom has been at the forefront of Fintech innovation. While there are many reasons for the UK playing a lead role in new forms of finance several variables may be distilled from the list. First, the country is very supportive of an entrepreneurial/market-based… Read More

June 24, 2016 @ 4:21 pm By JD Alois  |  

Reg CF, or Title III of the JOBS Act of 2012, is the portion of the law that legalizes retail investment crowdfunding. The new securities exemption was largely designed to provide access to capital to those small companies that are most challenged in finding sufficient… Read More

June 20, 2016 @ 11:34 pm By JD Alois  |  

Earlier today (June 20, 2016) the North Carolina Senate passed legislation (SB 481) that would allow small North Carolina companies to raise up to $2 million from non-accredited and accredited investors.  The bill now marches over to the House Committee on Finance.  The bill is… Read More

June 13, 2016 @ 7:56 am By Erin Hobey  |  

Armed with an undergraduate degree in Electronics from Dharmsinh Desai University and MBAs from both the Indian Institute of Management, Bangalore and McGill University, Jaidev Janardana spent 12 years with Capital One, in the US and the UK. He was the CMO for Capital One UK, responsible… Read More

June 10, 2016 @ 9:16 am By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) published a report earlier this spring entitled, “Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective.” While the name may a bit convoluted the report is basically about Fintech and the financial system as… Read More

June 10, 2016 @ 7:38 am By JD Alois  |  

This week the Monetary Authority of Singapore (MAS) revealed their approach to “securities crowdfunding” announcing that platforms may raise up to S$5 million (USD $3.7million) from both sophisticated and retail investors.  The approach is more in line with the UK than the US providing a… Read More

June 9, 2016 @ 3:00 pm By Samuel Guzik  |  

  It’s been more than four (very long) years since the Jumpstart Our Business Startups Act (the JOBS Act) made its debut, with much fanfare, in the White House Rose Garden. And on May 16, 2016, the official date of the emancipation of investment crowdfunding… Read More

June 9, 2016 @ 7:48 am By JD Alois  |  

In February of 2015, the Monetary Authority of Singapore (MAS) published a consultation paper on facilitating investment crowdfunding.  Yesterday MAS published a “Response to Feedback Received” sharing their perspective on easing restrictions to raise capital online. MAS also publish a brief FAQ regarding proposals for… Read More

June 7, 2016 @ 1:55 pm By Erin Hobey  |  

The Monetary Authority of Singapore (MAS) has issued a consultation paper proposing a regulatory sandbox for fintech startups and pilot schemes, according to a release. The proposal aims to enable firms to experiment with new technology in an environment of relaxed rules and appropriate safeguards. The consultation will… Read More

June 6, 2016 @ 11:58 am By Robin Sosnow  |  

    Exploring the emerging role of SAFEs or Simple Agreement for Future Equity in Reg CF offerings.   Examining SAFEs pros and cons to founders and financiers investing in seed stage companies. You’ve started a new business, established your team, and you’ve self-funded all… Read More

June 3, 2016 @ 6:27 pm By JD Alois  |  

The New York Department of Financial Services apparently is not content with just rifling through recent actions at Lending Club, the state agency has now sent letters to 28 different online lenders.  This is according to a report by Reuters – the news agency happened… Read More

June 3, 2016 @ 2:15 pm By JD Alois  |  

FinCEN, a bureau of the Department of the Treasury, has proposed changing the regulatory definition of a “broker or dealer in securities.”  The proposed amendment will impact crowdfunding portals as created under the JOBS Act of 2012.  According to FinCEN; “these amendments would require funding… Read More

June 2, 2016 @ 6:01 pm By JD Alois  |  

  The Chairman of the UK Parliament Treasury Committee has written both Tracey McDermott, head of the FCA, and Andrew Bailey, Deputy Governor of the Bank of England for Prudential Regulation, to enquire if consumers may benefit from further regulation of the peer to peer… Read More

June 2, 2016 @ 2:58 pm By JD Alois  |  

The Consumer Financial Protection Bureau announced a proposed set of rules today designed to curtail abuses within the Payday lending industry. CFPB Director Richard Cordray released a prepared statement on the proposal explaining; “..our research has shown that too many of these loans trap borrowers… Read More

June 2, 2016 @ 8:12 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has proposed rules targeting the Payday lending industry requiring lenders to assure consumers have the ability to repay the loans.  The CFPB described the proposal as “ending payday debt traps.”  The rules would impact not just Payday lenders but… Read More

May 31, 2016 @ 9:55 am By JD Alois  |  

Expectations were high earlier this year as Australia appeared poised to enact legislation to improve the environment for investment crowdfunding to occur in a more liberalized environment. Yet the proposal by policy makers had come under pointed criticism.  Eventually the bill “lapsed at dissolution” in… Read More

May 29, 2016 @ 7:44 pm By JD Alois  |  

Shares in Lending Club (NYSE:LC) jumped last week as chatter popped up in a report in WSJ.com that Citigroup may be purchasing, or perhaps providing financing, for their loans.  This is the second round of positive news as it was recently revealed that Chinese billionaire Tianqiao… Read More

May 26, 2016 @ 4:56 pm By JD Alois  |  

Last week on day one of Reg CF, the North American Securities Administrators Association (NASAA) posted a request for comments on a proposed rule.  NASAA desires the requirement of an additional filing for Reg CF issuing companies to be completed in those states where either… Read More

May 25, 2016 @ 4:35 pm By JD Alois  |  

“Should the Commission consider doing away with the notion of a so-called “accredited investor” altogether?” The above question is posed not by this digital publication but by a sitting SEC Commissioner, Michael S. Piwowar. The Commissioner was speaking at the recent gathering of the Advisory… Read More

May 25, 2016 @ 12:23 pm By Anthony Zeoli  |  

With the Federal Title III rules effective, there is certainly a lot of excitement surrounding national level “retail” crowdfunding to non-accredited investors. That’s obviously great news for the industry, but it’s important to remember that the majority of the states currently have some form of “intrastate”… Read More