Politics

UK Scheme Promoting Alternative Lenders Should Be Off the Ground by 2016

balloon

If your small firm is rejected for a bank loan in Britain next year, consider hearing out the bank’s entire response: There are alternatives. A British government scheme that requires banks to refer small firms rejected for loans to alternative finance providers is expected to be underway by next year, noted the managing director of the British Business Bank,… Read More

NC Senate Files Intrastate Crowdfunding Bill

North Carolina Flag

North Carolina has taken another step towards enacting an intrastate crowdfunding law.  As reported last year, a bill nearly passed but in the end did not have enough support to cross the line.  In February we shared the NC House had introduced a bill.  According to JobsNC, the Senate has filed the North Carolina Providing… Read More

Title IV of the JOBS Act Final Rules (Document)

CorpFin SEC Title IV

Below is the “draft” of final rules of Title IV of the JOBS Act. Also known as Regulation A+ the below document will become final following a 60 day period after publication in the Federal Register. The 453 page document will be reviewed by the Office of Management and Budget under “Major Rule Analysis”according to… Read More

SEC to Require Broker/Dealers Active in Off-Exchange Market to Become Members of National Securities Association

SEC Commissioners Mary Jo White

The Securities and Exchange Commission today proposed rule amendments to require that broker-dealers trading in off-exchange venues become members of a national securities association.  The amendments are designed to enhance regulatory oversight of active proprietary trading firms, such as high frequency traders (HFT). “This proposal embodies a simple but powerful principle of the federal securities… Read More

The Reg A+ Bombshell: $50M Unaccredited Equity Crowdfunding Title IV takes Center Stage

SEC Commissioners too

In a stunning development earlier today, the SEC released final Regulation A+ rules under Title IV of the JOBS Act that pre-empts state law for larger Regulation A offerings up to $50M and provides for state coordinated review for offerings up to $20M.  Growth companies will now soon be able to raise up to $50… Read More

Final Rules for Title IV of the JOBS Act to Include State Pre-emption But for Tier 2 Only

Mary Jo White Title IV Hearing

The Securities and Exchange Commission met today to finalize rules for Title IV of the JOBS Act, commonly referred to as Regulation A+.  As expected the Commission quickly approved rules that included state Blue Sky pre-emption but for only Tier 2 of Title IV.  The vote for final rules was unanimous but included some reservations… Read More

Real Estate Firms Eye Forthcoming Rules of Regulation A+

Ben Franklin Close Up 100 hundred money dollars

Later this morning the Securities and Exchange Commission will be releasing final rules for Title IV of the JOBS Act otherwise known as Regulation A+. While the details are not yet know, the expectations are for proposed rules to allow raised of up to $50 million without having to go through the state review process…. Read More

LOOKING FOR THE EXIT – Commissioner Aguilar Presses On The Need For Greater Secondary Market Liquidity 

Where is the Exit 2

Earlier this month, Commissioner Luis A. Aguilar addressed the Advisory Committee on Small and Emerging Companies in Washing D.C. In his speech (embedded below), Commissioner Aguilar echoed the sentiments of the market in arguing the need for increased liquidity in the private placement market. His speech goes well beyond that point however, as he highlights… Read More

FCA Publishes Business Plan for Coming Year

British Pounds Money £10

The UK Financial Conduct Authority is a relatively new entity having only been formed in 2013, reconstituted from its predecessor the FSA.  The transformation, which saw the responsibilities of the FSA migrated over to three different regulatory bodies, was engendered in part by the financial crisis and the associated political realities. The FCA’s plan for… Read More

UK Government Creates P2P Impact Fund. Commits £2 Million for Social Enterprises

Peer to Peer Blue

The UK has just announced a new £2 million fund created to back social organisations via peer to peer lending and crowdfunding platforms. The announcement did not mention specific platforms by name by disclosed platforms are being reviewed with an announcement coming  which platforms have been selected later this year. The new “P2P Impact Fund”… Read More

SEC Schedules Open Meeting on Rules for Title IV of the JOBS Act

SEC Commissioners Mary Jo White

The Securities and Exchange Commission has announced an open meeting to be held on Wednesday, March 25th, to consider whether to adopt rules and forms related to the offer and sale of securities pursuant to Section 3(b) of the Securities Act of 1933 to implement Section 401 of the Jumpstart Our Business Startups Act.  This… Read More

Peer to Peer Lenders Encouraged by Osborne Speech & Tax Break Policy

United Kingdom Budget UK

Earlier this week George Osborne, Chancellor of the Exchequer, took his story up to Parliament to share his view of the UK economy and his strategic vision going forward.  The speech was broadly well-received, and as politicians typically do, there was something for everyone including a tax consultation on newspapers (to help the jurassic industry maintain… Read More

SEC Investor Advisory Committee Scheduled to Meet in April. Will Review Recommendations of SME Committee

Barbara Roper Investor Advisory Committee

The SEC Investor Advisory Committee (IAC) has scheduled their next gathering at F Street in DC to be held on April 9th.  The group is ostensibly an advocate on behalf of all investors but has a tendency to be more on the side of protection as opposed to facilitating access to investment opportunity and choice. According to… Read More

Florida Takes Another Go at Legalizing Crowdfunding

David Santiago

Florida, a state that hosts the worlds largest crowdfunding festival and wants to develop an innovation economy, failed in legalizing investment crowdfunding last year. While the details of the story as to why the initiative to boost funding for SMEs, improve the regional economy and grow jobs, may be a bit byzantine, in the end the… Read More

China Banking Regulatory Commission is Circulating Peer to Peer Lending Rules

China the largest Peer to Peer Lending Market P2P

The China Banking Regulatory Commission (CBRC) is preparing to tighten the regulatory environment for the fast growing peer to peer lending industry. According to multiple reports, rules have been drafted and are being distributed for review by various industry experts and platform operators. An internal meeting was held last week at the CBRC where proposed rules… Read More

Chancellor George Osborne Calls UK the “Comeback Country” as He Touts FinTech, Innovation & More

George Osborne 2

At the annual presentation of the budget to the House of Commons, Chancellor of the Exchequer George Osborne checked off a wide ranging list of successes as the UK economy has segregated itself from much of the rest of Europe.  The contrast between the years of the Great Recession remain stark for all, but according to… Read More

European Banking Authority Opinion on Debt Based Crowdfunding

500 Euros Money Cash

The European Banking Authority (EBA) has been engaged with internet finance for some time recognizing the importance of crowdfunding to their industry. The EBA is an independent EU authority that strives to ensure effective regulation across Europe – a bit of a tall task.  Across Europe regulations regarding crowdfunding – both debt and equity based… Read More

Reg A Plus & Developing Venture Exchanges (Webinar)

TItle IV JOBS Act slide

Crowdfund Insider Senior Contributor, Sam Guzik, joined David Weild, former Vice Chair of Nasdaq, in a presentation last week on current issues regarding capital formation for SME’s. The discussion reviewed Title IV of the JOBS  Act (Regulation A+), the need for venture exchanges for secondary transactions of new types of securities, and what certain regulatory changes… Read More

Mayday PAC Resurfaces at SXSW as Lawrence Lessig Reveals “Next Steps”

Lawrence Lessig

Lawrence Lessig’s movement to crowdfund political change via his Mayday PAC has been quiet since the last political cycle revealed minimal success in his organization’s attempt to support candidates that back his vision of fundamental political change.  The first attempt is being described as “experimental”. Now Lessig is coming up for air at SXSW and in a… Read More

Are Potential UK Crowdfunders Caught in an FCA Logjam?

Logjam

  According to a recent report, aspiring UK crowdfunding platforms are suffering from extended delays in platform approval by the Financial Conduct Authority (FCA).  In an article published in the Guardian, the missive declared that, “the FCA has approved only two crowdfunding platforms in the past nine months and the number of applications pending has… Read More