Politics

FCA & Cambridge University Partner to Review UK Alternative Finance

CCAF Cambridge Centre for Alternative Finance May 2016

The Financial Conduct Authority (FCA) and the Cambridge Centre for Alternative Finance (CCAF) have formed a unique partnership to assist in the review of the UK alternative finance industry. The first joint project will inform the FCA’s ongoing post-implementation review of crowdfunding regulation which is in… Read More

Status Quo is Not an Option: OSC Chair Acknowledges Fintech Requires New Approach, Announces OSC Launchpad

Canada Flag

Speaking at the Toronto Region Board of Trade this week, Maureen Jensen, Ontario Securities Commission (OSC) Chair and CEO, delivered a wide-ranging keynote address that tackled the topic of Fintech, regulations and announced a forthcoming regulatory Sandbox for entrepreneurs. Jensen acknowledged the rise of Fintech… Read More

Everybody’s Doing It: Bank Indonesia to Launch Fintech Regulatory Sandbox

Indonesia Money

Bank Indonesia (BI) recently announced 5 new initiatives regarding the payment system – a hot sector of financial services. Within these five strategic objects was Financial Technology or Fintech. Bank Indonesia, the central banking authority of the 4th most populous country in the world stated;… Read More

Financial Services Innovation Act of 2016 (Deck)

App Money iPhone

Congressman Patrick McHenry announced new legislation this week created to improve financial innovation in the US. Unlike some other countries, financial service firms are mandated to follow rules enforced by a litany of government agencies.  Dealing with the maze of bureaucrats is not easy for… Read More

Here is the Legislation Designed to Improve Fintech Innovation in the US

Patrick McHenry 2

Yesterday Crowdfund Insider wrote about forthcoming legislation from Congressman Patrick McHenry that is designed to enhance Fintech innovation in the US. Today we have a copy of the draft bill, embedded below. The 18 page document entitled the Financial Services Innovation Act of 2016 is… Read More

Congressman McHenry Introduce Bill to Create Financial Services Innovation Offices to Boost Fintech Growth

Patrick McHenry 3

Congressman Patrick McHenry, the Chief Deputy Whip of the House, has introduced new legislation designed to boost Fintech innovation in the US. Today, the US may be the financial center of the world but in some respects, the country is slipping behind when it comes… Read More

Brief: Thailand Finally Pursues Fintech, Preps Regulatory Sandbox

Thailand

Thailand decided to open a fintech regulatory sandbox, with the central bank set to invite firms to participate early next year, according to a release. The sandbox will enable developers working on lending, payment and money-transfer services and products to experiment for up to a year. An… Read More

National Crowdfunding Association of Canada Criticizes Integrated Crowdfunding Exemption in Letter to Alberta Securities Commission

Canada Flag

The National Crowdfunding Association of Canada (NCFA), has criticized Canada’s regulatory approach to crowdfunding in a public letter sent to the Alberta Securities Commission and Superintendent of Securities, Nunavut.  While the letter is addressed to the two entities it can be viewed as a proxy… Read More

Busy Week at House Financial Services Committee

House Finance Services Committee Maxine Waters and Jeb Hensarling

The House Financial Services Committee, chaired by Congressman Jeb Hensarling, has booked a busy schedule next week. Included on the list of hearings is a visit from Secretary of the Treasury Jack Lew. Testifying on Thursday, September 22nd at 10AM, Lew will be addressing the… Read More

EU Report: No Strong Case to Create Synchronized Framework for Investment Crowdfunding

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File this one under recently discovered, but the European Commission published a report earlier this year that pretty much crushed any hope for a more synchronized approach for debt and equity crowdfunding across Europe. As highlighted in the editorial by Alessandro Lerro earlier this week,… Read More

SEC ACSEC to Meet on October 5th

ACSEC Sarah Hanks and Stephen Graham

The Securities and Exchange Commission has scheduled the next meeting of the Advisory Committee on Small & Emerging Companies for October 5th.  The meeting will be held at SEC Headquarters in Washington, DC and is open to the public. The proceedings will be live-streamed via… Read More

Chicago Federal Reserve: Rapid Rise of Fintech is Changing the Landscape of Banking

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The Chicago Federal Reserve has jumped into the ongoing discussion regarding Fintech innovation, banking, and financial services. Reflecting on the Chicago Fed’s annual risk conference earlier this year, author Marshall Eckblad stated; “The landscape for banking and financial services is changing at an accelerating pace… Read More

Mary Jo White: One Size Does Not Fit All in Equity Markets

mary jo white November 2015

SEC Chair Mary Jo White reaffirmed her interest in providing improved liquidity for shares in smaller companies mentioning specifically Reg A+ and Reg CF. In a wide-ranging speech on equity market structure, White injected a “word on quality markets for smaller companies.” White stated; “…I… Read More

European Union Stops Harmonization Process for Crowdfunding Rules

Europe Broken

At Crowddialogue Europe in Graz, Austria last week, a panel presentation, moderated by Ronald Kleverlaan, inquired about the status of the European legislation on crowd-investing. Looking back to 2014, with the EU Commission’s Communication “Unleashing the Potential of Crowdfunding”, soon followed by the 2015 Communication “Action Plan… Read More

FCA Call for Input on Crowdfunding Closes. Industry Awaits Final Report

Queen Elizabeth Money-20-pounds

The Financial Conduct Authority has closed the comment period regarding its request for feedback regarding post-implementation review of FCA crowdfunding rules. The initiative covers debt, equity and other securities. The forthcoming publication reviewing existing rules will incorporate the perspective of platforms, consumers and competitors to… Read More

Bank of England Embraces Fintech & Collaboration

victoria-cleland

“It is hardly possible to overrate the value…of placing human beings in contact with persons dissimilar to themselves, and with modes of thought and action unlike those with which they are familiar…such communication has always been…one of the primary sources of progress.” –John Stuart Mill… Read More

House of Representatives Passes Several Bills to Boost SMEs. Now Off to the Senate

Washington DC Capitol Building

The House of Representatives passed four bills this week designed to help smaller businesses access the capital they need to expand, hire and grow the economy.  Small businesses are the economic engine of the country. Small businesses provide 55% of all jobs and 66% of all… Read More

House of Representatives to Debate “Accelerating Access to Capital Act” & More to Help Small Business

jeb hensarling

This coming week the House of Representatives will debate several bills previously approved by the Financial Services Committee.  The legislation is designed to improve access to capital for SMEs by reducing regulatory burdens and streamlining the process. HR 2357, the Accelerating Access to Capital Act,… Read More

EU Commissioner Talks CMU, Alternative Finance Following Brexit

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EU Commissioner Valdis Dombrovskis replaced Jonathan Hill of the UK at the Commission following the Brexit decision. He recently sat down with CNBC for an interesting interview where he shared some insight into his perspective on the Capital Markets Union (CMU) in light of the UK EU… Read More