Politics, Legal & Regulation

November 26, 2017 @ 12:00 pm By Patrick A. Reardon  |  

On September 13, 2017, the Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies held its final meeting.  The SEC will replace this Advisory Committee with the new statutorily established Small Business Capital Formation Advisory Committee. At this meeting, the Advisory Committee adopted… Read More

November 25, 2017 @ 11:00 am By Samantha Hurst  |  

This week, the Australian Securities and Investments Commission (ASIC) announced it has signed a new fintech cooperate agreement With Dubai Financial Services Authority (DFSA). According to the ASIC, this new agreement will enable it and the DFSA to refer innovative fintech businesses to each other… Read More

November 25, 2017 @ 8:07 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has endured a stormy odyssey in its short tenure as the newest federal bureaucracy in Washgton, DC. Yesterday, the storm strengthened as outgoing Director Richard Cordray selected Leandra English to lead the CFPB as Acting Director. In a one-two punch,… Read More

November 24, 2017 @ 7:49 pm By JD Alois  |  

Many people are still sorting through the various proposals announced by Chancellor of the Exchequer Philip Hammond during the Autumn Budget statement from the past week. Parsing through the nuances of the many policy pronouncements is an annual affair. So what is in the Budget… Read More

November 22, 2017 @ 6:15 pm By JD Alois  |  

Joseph Otting, a former banker and CEO of OneWest Bank, was approved by the Senate in a party line vote last week to take over the helm at the Office of the Comptroller of the Currency (OCC). As Comptroller, Otting will be stepping into an… Read More

November 22, 2017 @ 9:44 am By JD Alois  |  

The Chancellor of the Exchequer Philip Hammond proposed an update to the Enterprise Investment Scheme (EIS) in the Autumn budget presented at the House of Commons today. The measures will increase the annual limit for individuals to £2 million – provided that anything over £1… Read More

November 22, 2017 @ 7:13 am By JD Alois  |  

The much anticipated Autumn budget will be revealed by Chancellor of the Exchequer Philip Hammond soon. In advance of the speech at the House of Commons there has been much speculation and plenty of rumors as to what exactly will be included in the exceptionally… Read More

November 21, 2017 @ 12:42 pm By JD Alois  |  

The Cardozo Blockchain Project is an initiative from Cardozo Law School that seeks to address the legal issues and challenges related to Blockchain technology and the fast emerging Initial Coin Offering market. The project is directed by Prof. Aaron Wright but includes the input and… Read More

November 21, 2017 @ 2:00 am By JD Alois  |  

Chancellor of the Exchequer Philip Hammond’s Autumn budget will be revealed this week and there is plenty of chatter as to what may, or may not, be included in the important policy statement. With Brexit pressure compelling policy makers to do everything they can to… Read More

November 20, 2017 @ 2:48 pm By JD Alois  |  

Jason Hsu is on a mission to turn Taiwan into a Fintech hub. This includes the development of a robust Initial Coin Offering market – in stark contrast to several Asian neighbors like China and South Korea,  two countries that banned all ICOs earlier this… Read More

November 20, 2017 @ 2:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled a meeting of the Investor Advisory Committee (IAC) for December 7th. The creation of the IAC was mandated by Dodd-Frank to advise the Commission on regulatory priorities for individual investors. In the past, the focus by the Committee… Read More

November 19, 2017 @ 9:31 pm By JD Alois  |  

Earlier this month Crowdfund Insider posted a research report published by the Cleveland Federal Reserve that was highly critical of the peer to peer lending industry (marketplace lending) in the US. The report, authored by Yuliya Demyanyk at the Cleveland Federal Reserve, Elena Loutskina at the University… Read More

November 19, 2017 @ 12:00 pm By Lowell Putnam  |  

  On October 18, the Consumer Financial Protection Bureau (CFPB) issued a set of principles on consumer-authorized data sharing and aggregation intended to safeguard consumer interest as the data sharing market continues to develop in the US. As a financial data company providing account aggregation,… Read More

November 19, 2017 @ 10:00 am By JD Alois  |  

The Tezos Initial Coin Offering (ICO) has been hit with another class action filing, this time in Florida. Filed by the law firm of Silver Miller in Coral Springs, the legal action is on behalf of plaintiff Alejandro Gaviria. The suit names founders Kathleen and… Read More

November 18, 2017 @ 6:52 pm By JD Alois  |  

The Japan Blockchain Alliance (JBA) has published guidance for Initial Coin Offerings (ICOs) for sales to residents of Japan. The JBA said there was a misconception regarding ICOs sold to Japanese citizens as there are no existing regulations or, alternatively no Japanese laws apply if… Read More

November 17, 2017 @ 12:06 pm By JD Alois  |  

  The European Securities and Markets Authority (ESMA) spoke up this week on the hot topic of Initial Coin Offerings. The ESMA published two different documents: The first targeted the risks of ICOs for investors. The second addressed issuers and applicable rules. Located in Paris, the ESMA… Read More

November 16, 2017 @ 8:05 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted the agenda and panelists for the 36th annual Government Business Forum on Small Business Capital Formation. The annual gathering has been held at the SEC HQ in Washington, DC in past years but this event will be… Read More

November 16, 2017 @ 7:36 pm By JD Alois  |  

The Securities and Exchange Commission has posted a complaint, filed in September, against Miami-based Pedro Fort Berbel and his company Fort Marketing Group. The SEC says that Berbel and his company operated  a Ponzi scheme that used a fraudulent internet advertising scam under such names… Read More

November 16, 2017 @ 11:54 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has filed suit in federal court against Think Finance, a Fintech that leverages its technology to power online lending platforms. Think Finance provides software technology, analytics, loan servicing, and marketing services. The CFPB says the suit was filed for… Read More

November 15, 2017 @ 11:37 pm By Jor Law  |  

Despite the record success of many initial coin offerings (ICOs), raising capital for ICOs is a difficult process.  It is tempting to accept help anywhere one can get it, and there is no shortage of persons and companies clamoring to “find” or refer investors in… Read More