Politics, Legal & Regulation

April 11, 2017 @ 5:12 pm By JD Alois  |  

Earlier this month the Securities and Exchange Commission (SEC) published their annual report pertaining to the yearly SEC Government -Business Forum on Small Business Capital Formation. The gathering is mandated by law and has taken place since 1982. Each and every year a group of… Read More

April 10, 2017 @ 9:58 pm By JD Alois  |  

Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered a Keynote address today at the Innovative Finance Global Summit 2017. Woolard, the FCA’s champion for competition and thus a champion for consumers, delivered an important message regarding their regulatory mission: “It is… Read More

April 7, 2017 @ 9:00 am By Jonathan Nieh  |  

Three groups have been vying to become the first SEC-approved bitcoin ETF. A bitcoin ETF would essentially create a publically traded bitcoin index by creating a trust that is entirely funded by bitcoins. The trust would then issue shares which can be purchased by the public… Read More

April 6, 2017 @ 6:12 pm By JD Alois  |  

The Jumpstart Our Business Startups or JOBS Act is celebrating its 5th year anniversary. This is the law enacted during the Obama administration that legalized three different iterations of investment crowdfunding. The JOBS Act under Title II enabled Reg D (506c) issuers to “generally solicit”… Read More

April 6, 2017 @ 4:30 pm By Jonathan Nieh  |  

Yesterday, the SEC’s Division of Corporate Finance released two new Compliance & Disclosure Interpretations (C&DIs) answering questions related to Regulation Crowdfunding (Reg CF). CD&Is are the Commission’s way of giving some informal guidance, through a question and answer format, on how its staff members interpret certain rules. They… Read More

April 6, 2017 @ 12:58 pm By JD Alois  |  

The US House of Representatives passed the Supporting America’s Innovators Act (HR 1219) today. The bill received solid backing with a vote of 417 for and 3 against. The bill now moves to the Senate for review. Chief Deputy Whip Patrick McHenry, the Vice Chairman… Read More

April 5, 2017 @ 10:49 pm By Nat Hoopes  |  

  The technology transforming the financial sector is creating a historic opportunity to make financial services better and more accessible for all Americans. With this technology, consumers are finding new opportunities to borrow more affordably, save, invest, and transmit money.  While Americans prize the innovations… Read More

April 5, 2017 @ 5:45 pm By JD Alois  |  

The SEC has announced it has adopted amendments to increase the amount of money companies may raise under Reg CF or retail crowdfunding. Initially, Reg CF capped the amount allowable for issuers to $1 million. The SEC has adjusted the amount for inflation and increased the… Read More

April 4, 2017 @ 7:50 am By JD Alois  |  

As the UK moves forward with the separation from Europe, government officials are looking beyond Europe to improve bilateral relationships to improve trade and other areas. As Fintech is an emerging industry that is vital to the future of Great Britain, it simply makes sense… Read More

April 3, 2017 @ 10:41 am By JD Alois  |  

The Securities and Exchange Commission has scheduled its Equity Market Structure Advisory Committee for April 5 beginning at 9:30 AM ET.   The meeting will include updates from the four subcommittees, including presentations from the Regulation NMS subcommittee on Rule 611 and the Trading Venues… Read More

April 3, 2017 @ 10:26 am By JD Alois  |  

The North Carolina Providing Access to Capital for Entrepreneurs and Small business Act (NC PACES Act) was signed into law in July 2016. Final rules were adopted on March 31, 2017 and were filed with the NC Codifier of Rules on the same day. Subsequently, the rules… Read More

March 31, 2017 @ 6:54 pm By JD Alois  |  

The Senate Banking Committee is expected to approve Jay Clayton for SEC Chair next Tuesday (April 4th) following a fairly routine confirmation hearing earlier this month.  Clayton will then move to the full Senate for a vote – an event that is expected to take… Read More

March 30, 2017 @ 9:50 am By Erin Hobey  |  

In votes this and last week that were largely along party lines, US Congress moved to dismantle the landmark internet privacy protections for consumers, a strike against Obama’s telecommunications and technology regulations.. At this writing GoFundMe is hosting fourteen concurrent crowdfunding campaigns that supposedly offer donors the opportunity to buy Congress… Read More

March 29, 2017 @ 7:49 am By JD Alois  |  

Theresa May has signed the letter that will formally separate the UK from its 43 year membership in the European Union. As the UK initiates Article 50, Lawrence Wintermeyer, CEO of Innovate Finance – the advocacy group that supports all things Fintech – is out with… Read More

March 27, 2017 @ 10:36 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) is continuing its push to collaborate with financial regulators around the world to improve Fintech innovation and collaboration. MAS today announced a cooperation agreement with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés… Read More

March 24, 2017 @ 4:15 pm By JD Alois  |  

The Milken Institute Center for Financial Markets, a non-partisan think tank with a mission to increase global prosperity, has published a document on modernizing financial regulation in the US.  Most regulations overseeing the financial services sector were written for an analog world. There is a… Read More

March 24, 2017 @ 9:37 am By JD Alois  |  

  Comptroller of the Currency Thomas Curry recently said the Office of the Comptroller of the Currency will be issuing Fintech Charters. While the hope was the OCC would create a light touch, streamlined approach to empowering Fintech firms to operate across the US without… Read More

March 24, 2017 @ 8:06 am By JD Alois  |  

Recently the Australian Senate approved a new investment crowdfunding law (Crowd-sourced funding). The final bill has been a long time in coming as Australia has made several attempts at improving access to capital for smaller firms be allowing issuers to raise capital online. But the… Read More

March 23, 2017 @ 4:39 pm By JD Alois  |  

The Financial Industry Regulatory Authority or FINRA is seeking feedback on how to best execute on its mission to regulate members who operate in the securities industry. FINRA has come under criticism in recent years as losing touch with its membership and negating its “Self-Regulatory Organization”… Read More

March 23, 2017 @ 9:24 am By JD Alois  |  

  The Senate Banking Committee, Chaired by Senator Mike Crapo, is set to hold the nomination hearing this morning regarding the appointment of Jay Clayton as SEC Chair.  The hearing will be live-streamed on the Committee’s website beginning at 930AM. Clayton, a longtime corporate attorney,… Read More