Politics

SEC Commissioner Daniel Gallagher to Depart Commission by October 2nd

Daniel Gallagher

Securities and Exchange Commissioner Daniel Gallagher announced in a brief statement today that he intends on departing the SEC no later than October 2nd.  His term was not set to expire until 2016. Gallagher submitted his resignation to President Obama in May of 2015 but… Read More

SIPP P2P Lending Surges Despite Financial Advisors’ Risk Anxiety; Anticipate Updates from ISA and FCA

UK House of Parliament London BIg Ben Clock Tower

Self Invested Personal Pensions (SIPP) assist marketplace lenders such as Ablrate and Ratesetter (the first consumer P2P platform to be available through a SIPP),  in sourcing loans.  Research from Yorkshire Building Society “highlighted a lack of understanding about peer-to-peer investment (P2P) and the potential risks it poses… Read More

Hiscox Names US as “Most Entrepreneurial” Country, No Time to Rest on Laurels

Entrepreneur

The International insurance firm Hiscox has released its seventh annual ‘DNA of an Entrepreneur Report’, with the firm using its global network of 268,000 small businesses in order to calculate entrepreneurship and business innovation within six countries, including the US, UK, Germany, France, Holland and… Read More

Securities Commission Malaysia Embraces Change: Launches Initiative to Boost Fintech Development

SC Chairman Datuk Ranjit Ajit Singh

The Securities CommissionMalaysa, (SC) is in the midst of hosting its annual World Capital Markets Symposium in Kuala Lumpar. The Malaysian Prime Minister, Dato’ Sri Najib Razak, was in attendance to deliver a keynote address that acknowledged the participants from around the world.  SC Chairman… Read More

Regulators Need to Forget Yesterday Says Niederer. Look to Tomorrow & Embrace Equity Crowdfunding

Paul Niederer of  ASSOB

Paul Niederer, CEO of ASSOB  – a trailblazing investment crowdfunding platform in Australia, makes a very valid point. Regulators are too rooted in the past and they are at risk of botching the future as the finance industry inevitably moves online. Australia is in the… Read More

Massachusetts & Montana Continue Assault on SEC & Regulation A+

Montana Massachusetts Take AIM at SEC

As aptly stated in one publication, Massachusetts and Montana are giving Regulation A+  – an F.  While the failing grade is perplexing to most casual observers, the battle over this new investment crowdfunding exemption and the petitioning states is nowhere near completion. In a filing… Read More

Is the State of Washington Trying to Blow-Up Regulation A+?

Regulation A Destroyed 1

The finalization of rules regarding Title IV of the JOBS Act was a watershed moment in the history of securities law and a leap forward for investment crowdfunding.  Title IV, now commonly referred to as Regulation A+, not only allows issuers to raise capital in… Read More

Deputy Governor of Reserve Bank of India Calls for More Regulation with Internet Finance

S S Mundra

Speaking at the annual FBIC Conference that is taking place this week in Mumbai, SS Mundra, Deputy Governor of the Reserve Bank of India, called for more regulation in the burgeoning online finance space – including crowdfunding and peer to peer lending. “Crowdsourcing and peer… Read More

US Department of Treasury Extends Deadline for Comments on Marketplace Lending

US Department of Treasury

The US Department of Treasury issued a “Request for Information” (RFI) on the burgeoning Marketplace / P2P lending sector several weeks back.  As summer vacations are quickly coming to an end, Treasury has decided to give direct lenders and interested parties a bit more time… Read More

Dick Bove is Right About Dodd-Frank but Wrong About Marketplace Lending

Dodd Frank

Dick Bove, an equity research analyst and frequent commentator on CNBC, has published an Op-Ed on CNBC about the legislative disaster called Dodd-Frank.  Bove does not mince words when he states,  “I thought it would be impossible to find a worse piece of legislation in… Read More

Thailand Expects to Authorize 1st Investment Crowdfunding Platforms Before Year End

Thailand Thai Baht Money

As regional economies slow, policy makers search for new catalysts for growth.  Thailand is one of several countries in southeast Asia eyeing investment crowdfunding to help spur innovation and economic growth.  While several rewards based platforms operate in Thailand now, the country has charted a… Read More

An Australian Misnomer: Crowd-Sourced Equity Funding

Australia

The Australian government has recently released a consultation paper seeking feedback on their proposed framework for “crowd-sourced equity funding” (CSEF). The “CSEF” label is inaccurate, and likely to confuse both investors and companies. Instead, Australia should be adopting the globally-accepted term “Equity Crowdfunding”. The term, crowd-sourced equity… Read More

SEC Issues New Guidance: Use Of The Internet Not Always Considered General Solicitation

SEC Guidance

Last week the Securities and Exchange Commission (SEC) responded to a “no-action” letter (RE: Citizen VC, Inc.) concerning the establishment of “substantive relationships” with previously unknown potential investors and what constitutes “general solicitation” in the context of a private securities offering. The SEC also issued… Read More

Brief: EquityEats & EzyXchange First to Register Under Colorado’s Crowdfunding Act

Governor John Hickenlooper gives his State of the State speech at the state capitol in Denver, CO.

Last month, Colorado government officials announced that its new crowdfunding law was set to go into effect on August 5th, which allows residents participate in equity projects. Governor John Hickenlooper signed the Colorado Crowdfunding Act into law back in April, which allows the state’s residents to be able to… Read More

Perspective: What Does SEC No Action Letter Mean for P2P Lending?

Kiran Lingam 3

Kiran Lingam, Managing Director at LendTech Angels, has published his thoughts on the Citizen.VC No-Action letter released earlier this week.  Lingam, a securities attorney by education, sees the clarification pushing marketplace lenders to use 506(b), as opposed to utilizing 506(c) – an exemption that allows… Read More

RealtyShares Gives Feedback on SEC No Action Letter Responding to Citizen.VC

No Action

Real estate platform RealtyShares has shared their perspective on the recent no-action letter issued by the SEC in response to an inquiry by Citizen VC, Inc. as to that company’s method of onboarding new investors. The letter forwarded to the SEC by Citizen.VC counsel Mintz Levin outlined several policies and… Read More