June 21, 2017 @ 10:25 pm By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) is out with two consultation papers that are guides for crowd-sourced funding (or investment crowdfunding). The first, “Crowd-sourced funding: Guide for public companies,” is consultation seeking feedback for proposed guidance on public companies raising capital online. The second, “Crowd-sourced funding:… Read More

June 19, 2017 @ 1:47 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) is opening up its doors at its Office of Innovation.  Announced today, the OCC will host office hours for its Office of Innovation at the OCC’s district office in New York City. The OCC is welcoming… Read More

June 18, 2017 @ 12:50 pm By JD Alois  |  

The European Crowdfunding Network (ECN) has launched a survey dedicated to addressing the challenges of cross border transactions in the investment space. More specifically, the ECN is seeking input on cross border crowdfunding and online lending, including peer to peer / marketplace lending. The ECN… Read More

June 18, 2017 @ 10:43 am By JD Alois  |  

The Chairman of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) John Griffith-Jones has confirmed his intent to depart both agencies at the end of his term in March 2018.  Griffith-Jones was appointed as the first FCA Chair in 2013, He became Chair… Read More

June 17, 2017 @ 12:30 pm By Jonathan Nieh  |  

The exponential growth of Initial Coin Offerings (ICOs), which are being used to raise huge amounts of money using blockchain based tokens, have been increasingly scrutinized. According to a recent report on Reuters, regulators within the SEC are taking a hard look at the use of… Read More

June 16, 2017 @ 4:47 pm By Therese Torris  |  

Yesterday the President of France, Emmanuel Macron received a standing ovation from an audience of tech startups and large businesses at Viva Technology. He spoke of France as a startup nation embracing hyper-innovation, of a revolution, a complete change of mindset. He shared his vision… Read More

June 16, 2017 @ 3:33 pm By Cole Lyons  |  

  The Federation of European Securities Exchanges (FESE) recently published their response to the European Commission’s Consultation, “FinTech: a more competitive and innovative European Financial Sector.” In their response, they listed three principles that they believe will be vital for the development of the Fintech… Read More

June 15, 2017 @ 10:22 am By Erin Hobey  |  

As reported, the UK Financial Conduct Authority named its second cohort of 24 Fintech firms that are ready to begin testing shortly.  What exactly is a sandbox and why is it important for countries to utilize these to engender innovation and spark disruption? Startups and nubie platforms… Read More

June 15, 2017 @ 8:30 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published an update on the Fintech Sandbox and has provided a list of the firms that have been accepted into the second cohort of the program. The FCA is a trailblazer in the Sandbox concept and the approach to… Read More

June 15, 2017 @ 7:17 am By JD Alois  |  

The European Commission public consultation on Fintech ends today. Launched in March, the consultation was created to better understand how Europe can engender a more competitive and innovative financial sector. The feedback will hopefully help guide the Commission how Fintech can make the EU Single Market… Read More

June 14, 2017 @ 2:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has shared the agenda for the next meeting of the Investor Advisory Committee (IAC) meeting which is scheduled for June 22. The SEC said the committee will hold a discussion in the morning on capital formation for smaller companies… Read More

June 13, 2017 @ 8:10 am By JD Alois  |  

The US Department of Treasury is out with its first report in a series addressing regulatory reform regarding the financial services industry.  Due to the enormity of the task, Treasury will divide its review of the financial system into a series of reports. While Fintech… Read More

June 11, 2017 @ 10:08 pm By JD Alois  |  

The Asia Securities Industry and Financial Markets Association (ASIFMA) is out with a report on the evolving Fintech sector and the authors are prodding regulators to work more closely together in a regional approach. ASIFMA is based in Hong Kong and while Hong Kong is… Read More

June 10, 2017 @ 2:22 pm By JD Alois  |  

This past week the House Subcommittee on Digital Commerce and Consumer Protection, part of the Energy and Commerce Committee, held a hearing on Fintech innovation as part of their disruptors series. During the hearing several witnesses delivered prepared statements to the Committee members and one clearly… Read More

June 9, 2017 @ 9:56 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that Acting Director of the Division of Enforcement Stephanie Avakian and former federal prosecutor Steven Peikin have been named Co-Directors of the Division of Enforcement. The SEC’s Division of Enforcement is the agency’s largest unit with more… Read More

June 9, 2017 @ 8:59 am By JD Alois  |  

  The Monetary  Authority of Singapore (MAS) has inked another Fintech agreement. This time MAS as signed a Memorandum of Understanding (MOU) with the Association of Supervisors of Banks of the Americas (ASBA). The ASBA helps to develop and promote bank supervisory practices throughout the… Read More

June 8, 2017 @ 10:38 pm By JD Alois  |  

Dodd-Frank has proven to be a horrible act of legislation. A reactionary swipe directed towards the financial services industry following the calamity known as the Great Recession, many portions of the law have not yet been fully enacted. The new regulations are simply too convoluted… Read More

June 7, 2017 @ 2:30 pm By JD Alois  |  

Response Specifically Targets, AI, Crowdfunding, Blockchain, Regtech & More. The European Securities and Markets Authority (ESMA) has responded to the European Commission consultation paper on “Fintech: a more competitive and innovative financial sector”. The ESMA welcomed the initiative to take a stock-take of the EU’s… Read More

June 7, 2017 @ 2:07 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has published a consultation on the regulation of Robo-Advisors or “Digital Advisory Services.” The consultation will close on July 7, 2017. The MAS proposal seeks to support innovation in financial services by recognising the unique characteristics of digital platforms…. Read More

June 7, 2017 @ 1:31 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) is out with an FAQ to supplement a Bulletin (2013-29). Several of the items address Fintech specifically, as well as marketplace lending. This is part of the ongoing adjustment in the financial regulatory space where policymakers… Read More