Politics

Big Week at House Financial Services Committee as Janet Yellen is set to Appear

Majesty of Law Rayburn House Office Building Washington DC

The House Financial Services Committee has an interesting schedule next week. On Wednesday, February 10th, Janet Yellen, Chair of the Federal Reserve, will wander up to Capitol Hill for a thorough grilling by Committee members. The Fed raised rates by 25 basis points last December… Read More

CrowdCheck CEO Sara Hanks Appointed Co-Chair of SEC Advisory Committee on Small and Emerging Companies

Sara Hanks at SEC IAC

The Securities and Exchange Commission has announced the updated roster of the Advisory Committee on Small and Emerging Companies (ACSEC). Within the announcement was an important change as Sara Hanks has been elevated to Co-Chair of the advisory group.  Hanks, a former SEC attorney and… Read More

Indonesian FSA and MCI Collaborating on New Fintech Regulations

indonesian fca

Indonesia’s Financial Services Authority (FSA), which regulates the banking and non-banking sector, is working with the Ministry of Communications and Information to bring out regulations governing online startup companies offering financial services, popularly referred to as fintech, reported DealStreetAsia. Indonesia is Southeast Asia’s largest economy (US$890B).  The new regulation will… Read More

British Business Bank: the UK Now Has a Record 5.4 Million Small Businesses

London UK Taxi Flag

In the UK, similar to other parts of the world, SMEs are the engine of economic growth and associated job and wealth creation.  According to the Federation of Self-Employed and Small Businesses (FSB); Small businesses account for 99.3% of all private sector businesses at the… Read More

House Approves Fix for Definition of an Accredited Investor as it Passes Several Pro SME Bills

Vote on Accredited Investor Definition 2.1.16

The House of Representatives started February of 2016 on a high note this year, leading with several bi-partisan pro-business bills that received little opposition on the floor.  The House Financial Services Committee which forwarded the legislation released a statement calling the bills a “win” for… Read More

House of Representatives to SEC: Time to Lift Our Entrepreneurs Off the Floor!

House Debate on HR 2187 and HR 4168

For those of you who have followed my articles on Crowdfund Insider over the past two years, you know that I have not been shy about voicing my concerns over the foot dragging that too often has often characterized the attitude of the Securities and… Read More

Crowdfunding Portals Prepare for Title III Retail Crowdfunding

Gates Open for Title III

Last week both the SEC and FINRA finalized the rules for funding portals to offer securities under Title III of the JOBS Act of 2012.  The journey to get to this place has been long and at times challenging as regulators and industry participants debated… Read More

Ireland Government Talks with GLI Regarding Fund Management Said to Hit Snag

ISIF Key Principles Ireland

GLI Finance, an alternative finance portfolio company, was apparently queued up to aid the  Irish government in its creation of a fund that would boost non-bank lenders.  According to a report in the Independent, negotiations were “unsuccessful”. GLI apparently declined to comment. The Ireland Strategic… Read More

SEC Publishes Agenda for Equity Markets Structure Advisory Committee

SEC Securities and Exchange Commission

The SEC has published the agenda for next week’s meeting of the Equity Market Structure Advisory Committee (EMSAC). The bulk of the meeting will tackle the “Flash Crash” that occurred on August 24th, 2015.  This was a bone-jarring event that saw the Dow nose-dived 1000… Read More

The Regulatory Risk for Marketplace Lending is Rising

Base Jumping by Chris McNaught

  As marketplace lending grows and matures it is natural, even expected, for policy makers and regulators to stand up and take notice. While in the overall world of finance direct online lenders are still relatively small, more and more frequently amounts are measured in… Read More

SEC IAC Presentation on Crowdfunding Highlights Investor Protection Concerns (Video)

IAC SEC Crowdfunding presentatiion

The SEC Investor Advisory Committee met last week in Washington, DC. The periodic meeting was opened by Chair White who mentioned Title III retail crowdfunding specifically; “Regulation Crowdfunding becomes effective in May and funding portals can begin to register with the Commission later this month. … Read More

Brief: UK Payment Systems Regulator Has New Head of Policy

UK Payments iPhone Money

The Payment Systems Regulator has hired Paul Smith as its new Head of Policy. Smith was previously at the Australian Energy Market Commission (AEMC) where he was the Chief Executive Officer.  He will assume his responsibilities on February 1st. Smith resigned from the AEMC in… Read More

Andrew Bailey Appointed Chief Executive of Financial Conduct Authority

andrew_bailey 2

HM Treasury has selected Andrew Bailey as the new Chief Executive of the Financial Conduct Authority (FCA).  Bailey replaces interim CEO Tracey McDermott who publicly revealed her decision not to seek a permanent assignment at the FCA in early January.  McDermott took over the helm… Read More

SEC Files Notice of Amendment & Accelerated Approval for Reg CF Funding Portal Rules (Document)

SEC Securities and Exchange Commission Green

The Securities and Exchange Commission submitted a filing last Friday regarding FINRA’s regulatory role pertaining to investment crowdfunding portals operating under Title III of the JOBS Act.  According to the SEC, FINRA just responded (January 21st) to several comment letters and the Commission is now… Read More

Does the SEC Want to Create a Regulatory Approach for Cross Border Equity Crowdfunding Offers?

Keith Higgins

Keith Higgins, Director the Division of Corporate Finance of the SEC, travelled to the UK last week to keynote a speech at the Fifteenth Annual Institute of Securities Regulation in Europe.  The speech, entitled; “International Developments -Past, Present & Future, launched into the premise of… Read More

FCA Publishes Consultation on Loan Based Crowdfunding. Agency Seeks to Simplify Client Money Requirements

UK P2PFA Members July 2015

The Financial Conduct Authority (FCA) has published a consultation paper to address the rules regarding client money requirements for “loan based crowdfunding platforms” including peer-to-peer & marketplace lending. According to the FCA, presently an investors money held in relation to peer to peer loans must… Read More

Thai Securities & Exchange Commission Seeks Comments on Proposed Crowdfunding Rules

Thai SEC

The Thai Securities and Exchange Commission has proposed rules for investment crowdfunding including the supervision of the investment portals. The SEC states that the proposed rules aim to establish a standard framework for operating crowdfunding portals. The supervised areas include measures and implementation against conflicts… Read More

SEC Investor Advisory Committee to Host Presentation on Crowdfunding Today

Chris Tyrrell Sara Hanks

The Investor Advisory Committee is scheduled to convene today at the SEC headquarters in Washington, DC.  The agenda in the afternoon (on the schedule for 2PM) includes an update on crowdfunding rules. The presentation on investment crowdfunding includes the participation of two well known industry… Read More