Politics

Crowdfunder UK: Surge in Crowdfunding Helps More Political Candidates Run in Snap Election

This week, Crowdfunder UK reported that more political candidates are excepted to crowdfund their election campaign in the snap general election. The crowdfunding platform revealed that just a little over a week since the election, projects on its website have raised £200,000 in the politics category…. Read More

Comptroller of the Currency, Thomas Curry, Delivers Speech on Importance of Fintech Innovation

“That ability to adapt and evolve to meet the changing needs of customers and the marketplace is as critical” Thomas Curry, the Comptroller of the Currency, delivered a speech today at Kellogg School of Management in Chicago. The speech comes at an interesting time as… Read More

Ireland is Considering Bespoke Crowdfunding Regulation

  Last week, the government of Ireland announced a Public Consultation on the Regulation of Crowdfunding. Currently, crowdfunding is not a regulated activity in Ireland. The Irish Minister for finance, Michael Noonan T.D. commented on the consultation; “Ensuring that the development of this exciting and… Read More

OCC Fintech Charter Lawsuit Creates “Increasing Headwinds” for Progress

The Conference of State Bank Supervisors (CSBS), a US organization of state bank regulators, filed a complaint against teh Comptroller of the Currency in the US district court of Columbia this week. The action was against the much debated Fintech Charter that was launched to… Read More

CFPB Sues Four Online Lenders Operated by a California Indian Tribe

The Consumer Financial Protection Bureau (CFPB) has sued four online lenders for collecting debt from consumers they allegedly did not owe. The four lenders include: Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial, Inc., and Majestic Lake Financial, Inc. – The suit… Read More

Congressman Patrick McHenry Slams CFPB, Labels Project Catalyst a Failure

The Consumer Financial Protection Bureau (CFPB) was created out of the ashes of the Great Recession. A knee jerk-reaction crafted by elected officials attempting to fix what went wrong, the controversial agency has since earned much criticism while having its structure deemed unconstitutional. At a… Read More

Germany: Lawmakers Must Strengthen Market for Investment Crowdfunding

Jamal El Mallouki, CrowdDesk CEO and current Chair of the German Crowdfunding Association (Bundesverband Crowdfunding), wants to boost the German crowdfunding market and affiliated regulatory framework. To improve the crowdfunding ecosystem, El Mallouki and the Association have published three concrete proposals for policymakers to pursue. In… Read More

Lawsuit Filed Against OCC Fintech Charter: CSBS’ John Ryan Sheds Light on State Regulators vs. OCC

US state regulators have filed a lawsuit against the Office of the Comptroller of the Currency, upping the ante in an increasingly bitter dispute over the federal agency’s plans to offer bank charter status to qualifying fintech firms, according to a release. The complaint, lodged by… Read More

California Crowdfunding Bill Takes Another Step Towards Becoming Law

The California intrastate crowdfunding bill (AB 1517) took another step in the direction of becoming an actual law yesterday.  On Tuesday, April 25th, the bill was green-lighted by the Assembly Banking and Finance Committee. Next up is the Assembly Appropriations Committee. A hearing on the AB… Read More

Chair of Commons Treasury Select Committee MP Andrew Tyrie Will Stand Down at June’s Election

Chichester Member of Parliament Andrew Tyrie has announced he will not stand for election this coming June. Tyrie has been the highly influential Chair of the Commons Treasury Select Committee since 2010. The MP released a statement on his decision, saying; “After very careful thought,… Read More

ASIC and OJK Sign Fintech Agreement Promoting Innovation

In an attempt to promote innovation in their financial service markets, the Australian Securities and Investment Commission (ASIC) and Indonesia’s Otoritas Jasa Keuangan (OJK) have entered into a Fintech Cooperation Agreement. Stated in a release Friday the 21st in Melbourne, the agreement creates a framework for collaboration… Read More

Asset Match Report: UK Consumers are Rallying Behind British Business Following Article 50

Asset Match, a London-based company offering a trading market for unlisted companies, is out with a report on UK sentiment following Brexit and Article 50 progress. According to their research, consumers are rallying behind British business with “overwhelming confidence” that UK business will benefit from… Read More

Singapore on Regulating Fintech: “Financial Regulators Should not be Afraid to Work Collaboratively”

This is a special time of the year in Washington, DC. It is the annual Spring Meetings of the IMF and World Bank meaning a diverse group of policymakers and regulators descend upon the US Capitol clogging restaurants and over-booking hotels. This also means there… Read More

Harvard Kennedy School Study Recommends P2P Marketplace Policy Overhaul

The proliferation of P2P marketplace, and most importantly online lending brings a competitive challenge for existing financial institutions that is here to stay. Its meteoric rise has provoked regulators around the world to deliberate on the new models of oversight needed to benefit consumers and… Read More

Have the Wheels Fallen Off of Reg CF Crowdfunding?

Crowdfunding, as allowed under Reg CF (created by Title III of the JOBS Act) was designed to improve access to capital for smaller firms in need of funding while providing new investment opportunities for smaller investors. For too many years the little guy has been… Read More

Gina Miller is Crowdfunding to “Do What’s Best for Britain”

Gina Miller is attempting to raise £10,000 through crowdfunding to encourage tactical voting during the United Kingdom’s upcoming elections this summer which were unexpectedly called by Prime Minister May. Miller is a businesswoman and founder of SCM Private, an asset management company. However, Miller acquired a… Read More

Financial CHOICE Act of 2017 Expected to Include Changes to Jobs Act Exemptions and More

The creation of Representative Jeb Hensarling, the Financial CHOICE Act of 2017 is geared to replace much of Dodd-Frank legislation. Dodd-Frank has become the poster-child for poorly written law that increased cost to financial service firms while increasing the potential of “too big to fail.”… Read More

On a Mission: FCA Updates Mission & Business Plan, Shares Challenges of Fintech

The Financial Conduct Authority (FCA) released an update this week on both their mission and an accompanying business plan. The lead securities and market regulator, posted its broad strategic objectives, as determined by Parliament; To ensure that relevant markets function well – and three operational… Read More

Try, Try Again. California Crowdfunding Bill Returns to State Legislature

California is perhaps the most natural state to enact an instrastate law to facilitate investment crowdfunding. Yet multiple attempts at crafting bespoke legislation to allow crowdfunding have failed multiple times. Honestly, I have lost count of the number of bills hoisted up the lawmaking flagpole… Read More