November 4, 2020 @ 6:40 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) is reporting that the US District Court for the District of Colorado has entered a judgment against defendants Venture Capital Investments LLC (VCI) and its principal and manager Breonna Clark d/b/a Eliot Clark d/b/a Alexander Pak (Clark), of Denver,… Read More

November 4, 2020 @ 6:17 pm By JD Alois  |  

LendingClub Corporation (NYSE: LC) has announced its Q3 results for the period ending September 30, 2020. LendingClub, a leading online lender, has been battered by the ongoing COVID-19 health crisis but is reporting a bounce back in loan originations. According to the earnings report, loan… Read More

November 4, 2020 @ 1:44 pm By JD Alois  |  

In a crushing move by the Shanghai Stock Exchange, Ant Group’s highly anticipated listing on the exchange was suspended, hitting pause on what was poised to be the largest public offering of a Fintech ever. Ant Group was planning to simultaneously list on both the… Read More

November 4, 2020 @ 1:27 pm By JD Alois  |  

Yesterday, the Hong Kong Government announced a consultation to enlist public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. Cryptoassets (digital assets) were included in the consultation with the introduction of a licensing regime for virtual… Read More

November 4, 2020 @ 11:18 am By JD Alois  |  

As previously reported, the Securities and Exchange Commission (SEC) has updated the exempt offering ecosystem – changes that impact online capital formation including Reg CF and Reg A+. The amendments published the SEC include funding cap increases to both the aforementioned exemptions while additional updates,… Read More

November 4, 2020 @ 10:16 am By JD Alois  |  

In 2019, the Monetary Authority of Singapore (MAS) launched a consultation on the Payment Services Act (PS Act) that in relation to AML/CFT, and other amendments in respect of digital payment token (DPT) service and certain technical amendments. The consultation address certain proposed amendments to… Read More

November 4, 2020 @ 8:53 am By JD Alois  |  

Nuapay claims it has uncovered apparent vulnerabilities surrounding payment cards, leading to a risk of fraud and “mounting consumer distrust.” The conclusion is being driven by an open banking report recently published where the firm says that more than one in ten (12%) of the UK… Read More

November 4, 2020 @ 7:47 am By JD Alois  |  

Payments Fintech PayMongo has partnered with Vesta, a fraud protection tech platform, to enhance the company’s advanced fraud detection capabilities. PayMongo is a fast-growing payments provider in the Philippines. Not too long ago, PayMongo raised $12 million in a Series A funding round led by… Read More

November 3, 2020 @ 3:26 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has scheduled a meeting for next week that will include the important topic of “Finders.” Finders are individuals or firms that help to match investors to smaller businesses. On October 7, the SEC… Read More

November 3, 2020 @ 10:43 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission updated rules affecting the exempt offering ecosystem. Many of the changes impact online capital formation and the regulatory environment that issuers may leverage to raise capital online and the ability of platforms to assist in these securities offerings. The… Read More

November 3, 2020 @ 9:13 am By JD Alois  |  

The Hong Kong Government has launched a consultation to gauge public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. The targets include cryptoassets (digital assets) with the introduction of a licensing regime for virtual asset services… Read More

November 3, 2020 @ 8:56 am By JD Alois  |  

Following a meeting with Chinese regulators, Ant Group’s listing on the Shanghai exchange has been postponed. Poised to become the largest ever Fintech IPO at $34 billion, the hurdle is a disappointing twist for founder Jack Ma – one of the wealthiest entrepreneurs in the… Read More

November 3, 2020 @ 8:18 am By JD Alois  |  

Mintos, a marketplace for investing in loans that reports over 340 000 investors from 63 countries, is planning a securities offering on Crowdcube later this month. According to a release, Mintos will offer investors the opportunity to acquire a limited amount of shares of the company,… Read More

November 3, 2020 @ 7:58 am By JD Alois  |  

HM Government of Gibraltar has joined the Global Blockchain Business Council (GBBC) an industry association for the blockchain technology industry. Gibraltar has targeted the digital asset sector of Fintech – including digital securities and cryptocurrency. The jurisdiction has created a digital asset friendly ecosystem in… Read More

November 2, 2020 @ 7:07 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee will hold a public meeting by videoconference on Monday, November 9, 2020, from 10:00 a.m. to 2:30 p.m. (ET). The meeting will be open to the public via a live-stream on the SEC website…. Read More

November 2, 2020 @ 3:57 pm By JD Alois  |  

The US Commodity Futures Trading Commission (CFTC) and the South African Reserve Bank (SARB) have signed a Statement of Intent to cooperate and support innovation through each authority’s respective financial technology (Fintech) initiative. More specifically, the CFTC’s LabCFTC and SARB’s Fintech Unit. LabCFTC’s mission is… Read More

November 2, 2020 @ 3:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Enforcement, has published its annual report for the 2020 fiscal year. According to the report, the Commission brought 715 enforcement actions of which 405 were “standalone” actions. The Commission also obtained more than 475 bars or suspensions… Read More

November 2, 2020 @ 1:43 pm By JD Alois  |  

As of Thursday, November 5, in a somewhat controversial move, the UK government will shutter a good portion of the country as COVID-19 cases rise. In a release by the UK government, the new restrictions will remain in place until at least December 2nd. The… Read More

November 2, 2020 @ 1:20 pm By JD Alois  |  

Congressman Patrick McHenry, the Ranking Member of the House Financial Services Committee, has issued a statement applauding the Securities and Exchange Commission’s rule change today that seeks to improve and simplify the exempt offering ecosystem. Congressman McHenry stated: “Today’s action by the SEC will help… Read More

November 2, 2020 @ 12:51 pm By JD Alois  |  

During an open meeting of the Securities and Exchange Commission (SEC), the Commission approved updates to the exempt offering ecosystem that are designed to improve access to capital, boost access to greater opportunity for investors while maintaining important investor protection criteria. In a party-line vote,… Read More