Politics

Guzik Welcome’s Congressman McHenry’s Letter to SEC But Believes More Needs to Be Done

Sam Guzik, a securities attorney and Crowdfund Insider Senior Contributor, has shared his perspective on Congressman Patrick McHenry’s letter to SEC Chair Jay Clayton. Guzik welcomes, McHenry’s requests but believes more needs to be done; “I applaud the unrelenting and tireless efforts of Congressman McHenry… Read More

Congressman Patrick McHenry Asks SEC Chair Jay Clayton to Act & Fix Crowdfunding Rules

Once again, crowdfunding’s white knight rides into action. Congressman Patrick McHenry sent a letter to the newly sworn in Chairman of the U.S. Securities and Exchange Commission Jay Clayton outlining certain provisions of the regulations relating to Title III of the JOBS Act that need… Read More

Smart Dubai: Implementing Blockchain Across the City, Emirates NBD on Board

Dubai’s pioneering government-backed initiative to implement blockchain technology across the city is now into its third month, and the pilot schemes continue to roll out. The move aims  to secure the city’s reputation as a leading Middle Eastern business center. This month Dubai’s largest bank, Emirates… Read More

Irish P2P Lender Linked Finance Receives FCA Authorization, Ready for UK Expansion

Linked Finance, an Irish P2P lending platform, has received full authorization by the UK Financial Conduct Authority which will enable the platform to actuate growth into the UK market, according to multiple Irish news sources. In late April, the Ireland government announced a Public Consultation on the Regulation… Read More

Is Your Crowdfunding Portal Ready For Your First FINRA Exam?

With the one year anniversary of Crowdfunding under Regulation Crowdfunding occurring on May 16th, business executives and compliance officers at registered Crowdfunding Portals (CFPs) should be actively preparing for their first regulatory examination by the Financial Industry Regulatory Authority (FINRA).   FINRA’s 2017 exam cycle… Read More

Scammer Allegedly Files Fake SEC Document in Plot to Make Money Off of Fitbit Options

The Securities and Exchange Commission has filed fraud charges agains Robert W. Murray, a mechanical engineer from Virginia. Murray allegedly cooked up a bogus regulator filing in an attempt to manipulate the share price of Fitbit. In a parallel action, the U.S. Attorney’s Office for the… Read More

Is the Fix Crowdfunding Act, as Included in the Financial Choice Act, a Bigger Fix than Intended?

Earlier this month, Crowdfund Insider wrote about the Financial CHOICE Act and the portions that address raising capital online. It is a pretty big piece of legislation at 589 pages and a multitude of subsections. Subtitle P or the “Fix Crowdfunding” appeared to fall short of… Read More

Growing Reg Influence in MENA Fintech: Abu Dhabi Global Market Joins R3 Consortium

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has joined R3 as a new member of its international consortium. ADGM is the first regulatory body in the Middle East and North Africa (MENA) region to be part of the R3 consortium, comprising over… Read More

Hong Kong Report on Status of Fintech

Hong Kong has been sizing up the Fintech sector of finance for awhile now. But while Hong Kong is a regional financial powerhouse, when it comes to Fintech innovation they have ceded ground to Singapore.  Yet authorities recognize that Fintech has the potential to deliver… Read More

FINRA CEO on Change: “We must avoid incrementalism or convenient compromises when bold action is required”

At the annual FINRA Conference in Washington, DC, this week FINRA President and CEO Robert Cook took the stage to talk about change.  In a speech entitled A Changing Industry – A Changing Industry, Cook reflected on his initiative to build a better FINRA.  In… Read More

Here is the Recommendation Letter on Reg A+ Secondary Market Liquidity Shared by ACSEC [u]

The SEC’s Advisory Committee on Small and Emerging Companies (ACSEC) addressed questions about secondary market liquidity in Reg A+ securities last week at their meeting in DC.  The Committee members reviewed challenges and demands for facilitating secondary transactions. Providing liquidity is an important aspect of… Read More

Emmanuel Macron’s Presidency Raises Great Hopes & High Expectations: Taxation Viewed as Major Issue by Crowdfunding Leaders

On Monday, Emmanuel Macron was officially inaugurated as President of France. He is France’s youngest President ever, and the youngest democratically elected head of State worldwide. He is also a known proponent of Fintech and crowdfunding. To give a bit of background to those who… Read More

VentureCrowd Calls Australian Crowdfunding Legislation a “Slow Motion Train Wreck”

While there has been some progress in the legislative odyssey of “Crowd-sourced equity funding”, as they call it down under, not everyone is pleased with the current results. VentureCrowd, a multi-class crowdfunding platform providing early stage, property and “crowd credit” finance, has labeled the process… Read More

Is the CSBS Vision 2020 the Answer to the OCC Fintech Charter?

Earlier this week, the Conference on State Bank Supervisors (CSBS) announced their “Vision 2020” initiative. The intent is to provide a solution for emerging Fintech firms and non-bank financial services. Vision 2020 comes after the CSBS sued the Office of the Comptroller of the Currency… Read More

Doug Ellenoff Shares Perspective on Anniversary of Regulation Crowdfunding Launch

Doug Ellenoff is one of the most recognizable names in the crowdfunding space. A founding partner of the Manhattan law firm of Ellenoff, Grossman and Schole, LLP, he has spent the last few years acting as a JOBS Act champion and crowdfunding advocate both publicly… Read More

Wefunder Publishes Open Letter to SEC: Six Recommendations to Improve Regulation Crowdfunding

Wefunder has sent a letter addressed to the Securities and Exchange Commission (SEC). On the anniversary of the launch of Title III of the JOBS Act, or Regulation Crowdfunding (Reg CF), Nicholas Tommarello, co-founder and CEO of Wefunder, has taken a moment to reflect on… Read More

Here is the Complaint Filed by the New York State Department of Financial Services Against the Office of the Comptroller of the Currency

As we reported last week, Maria T. Vullo, the Superintendent of the New York State Department of Financial Services, filed a lawsuit against the Office of the Comptroller of the Currency (OCC), and Keith Noreika, acting Comptroller. The complaint pertains to the OCC”s Fintech Charter…. Read More

The JOBS Act Turns Five, Regulation A+ Turns Two, Regulation Crowdfunding Turns One: What Should Be Next on the SEC Chair Jay Clayton’s Agenda

With the Jumpstart Our Business Startups (JOBS) Act having just reached its five year milestone, Regulation Crowdfunding hitting its one year milestone, and the two year anniversary of Regulation A(+) fast approaching, I thought this would be a good time to (briefly) reflect on the… Read More