Mexico Prepares Regulations for Debt & Equity Crowdfunding


This past week the  Comisión Nacional Bancaria y de Valores (CNBV) published their 7th National Financial Inclusion Report  (Reporte Nacional de Inclusión Financiera). The document (embedded below) spent a good amount of time defining and addressing the various forms of investment crowdfunding. The document was published in advance of… Read More

Document: European Crowdfunding Industry Response to European Parliament Proposal

European Union Flag

Below is the joint response delivered by several European crowdfunding associations including: The European Crowdfunding Network, The UK Crowdfunding Association, Financement Participatif France and Nederland Crowdfunding.  The document is in support of an initiative to raise the prospectus exemption to €10 million (the Committee on Economic… Read More

EU Parliament’s Draft of New Prospectus Directive Meets Crowdfunding Sector Demands

Money UK Europe Euros Pounds

  Earlier this year, the crowdfunding sector represented by the European Crowdfunding Network (ECN) the UK Crowdfunding Association, Financement Participatif France and Nederland Crowdfunding had called on the Parliament and the European Council to be very ambitious with the planned revision of the Prospectus Directive…. Read More

GAO Publishes Report on SEC Cybersecurity: Opportunities Exist to Improve Controls

SEC Blue

The Securities and Exchange Commission (SEC) has received a detailed report from the Government Accountability Office (GAO) regarding controls over financial systems and cybersecurity. In November of 2015, the GAO identified “deficiencies” in the SEC’s internal controls over financial reporting. This new report is a… Read More

House of Representatives Passes Bi-Partisan HALOS Bill to Help Pitch Events

Steve Chabot (R-OH), Kyrsten Sinema (D-ZA), Mark Takai (D-HI) and Robert Hurt (R-VA)

The HALOS or Helping Angels Lead Our Startups Act (HR 4498) received solid bi-partisan support this week as it was passed by the House of Representatives on a vote of 325 for and 89 against.  This past March the bill easily made its way through… Read More

EU Holds Off on Blockchain Regulation…For Now

European Union Flag

The European Union has put the brakes on regulating blockchain (the technology that underpins bitcoin); an EU parliamentary committee agreed on Tuesday in the latest example of a “softly-softly” approach by authorities towards financial services, according to the release. “We don’t want pre-emptive regulation, but we do… Read More

Simple and Rational P2P Regulation Expected: Details Emerge from Reserve Bank of India

Raghuram Rajan

According to Reserve Bank of India Deputy Governor R Gandhi, approval of new types of NBFCs (non-banking finance companies) will continue.  Detailed information has not yet been released from the bank, but Gandhi commented while inaugurating the ASSOCHAM summit discussing NBFCs: The Changing Landscape’ reported Mumbai’s Deccan Herald:… Read More

California’s Crowdfunding Exemption Explained (Document)

California Flag

California is in the process of attempting to pass legislation, once again, to legalize intrastate investment crowdfunding. If the proposed bill becomes law, California will join dozens of other states that enacted similar regulations to help fund small and emerging companies within their boundaries by… Read More

The Fix Crowdfunding Act is Mostly About Investor Protection

Protect and Serve Police

  Last week the House Subcommittee on Capital Markets, part of the powerful House Financial Services Committee, debated several important bills that may boost access to capital for SMEs.  One of the bills, the Fix Crowdfunding Act (HR 4855), has the profound potential to turn… Read More

EC Commissioner Hill Updates on CMU, Says Capital Requirements on Small Banks Too Onerous

Jonathan Hill, EU commissioner for financial services

EC Commissioner Jonathan Hill delivered a speech yesterday addressing the Capital Markets Union and other areas of financial services that are important to the economy of Europe. Hill, a UK national and former member of the House of Lords, holds the portfolio for Financial Stability, Financial… Read More

Brief: Investment Crowdfunding Bill Dies in Australian Senate

Kangaroo Australia

The Crowd-Sourced Funding bill, Australia’s push for a legislative update for investment crowdfunding regulations, has silently died in the Aussie Senate.  The legislation is listed as “lapsed at prorogation” on the Senate website.  The proposal had endured sector criticism with one industry participant calling the… Read More

EU Outlines Digitization Strategy, Embracing the Fourth Industrial Revolution

european commission

The European Commission has presented a set of measures intended to support and link national initiatives for the “digitisation of industry”.  The initiative is part of the policy push to improve competition and support industry including, the Capital Markets Union, Energy Union, Single Market Strategy,… Read More

Three US Senators Ask the GAO to Research Fintech & Peer to Peer Lending

US Sentors Merkley Brown Shaheen

In a letter addressed to the General Accounting Office (GAO), signed by Democratic Senators Jeff Merkley, Sherrod Brown, and Jeanne Shaheen, a request was made to research and make recommendations regarding Fintech and Peer to Peer / Marketplace Lending. The letter, dated April 18, 2016,… Read More

Finland Explains Why Investment Crowdfunding is Needed

Helsinki Finland Prime Minister Office

As we recently reported, the Finland Ministry of Finance has published an updated regulatory environment designed to facilitate debt and equity crowdfunding. The goal is to “enhance financial intermediation and thereby economic growth.” The Finnish economy posted GDP growth of 0.5% in 2015, after three… Read More

To Boost Entrepreneurship, SMEs Need Better Access to Capital

Small Business Loans Value SBE Council

This past week during a hearing at the House Subcommittee on Capital Markets, Raymond Keating of the Small Business & Entrepreneurship Council (SBE Council) delivered prepared remarks to the Representatives in attendance. The title of the hearing was the JOBS Act at Four: Examining Its… Read More

Capital Markets Subcommittee Schedules Hearing on SEC

Scott Garrett

The Subcommittee on Capital Markets and Government Sponsored Enterprises, part of the House Financial Services Committee, has scheduled a hearing to take place next week entitled; “Continued Oversight of the SEC’s Offices and Divisions”. The hearing will examine the mission, operation, and activities of certain… Read More

The Renaissance of the Retail Investor: Fixing America’s Wealth Disparity

Money Eyes Benjamin Look See

This is important.  In the United States, the wealth disparity is growing – not closing. While there are multiple reasons why this wealth gap has occurred, the growing dominance of big money over smaller investors has clearly exacerbated this societal challenge.  Unfortunately, policy officials have… Read More