Politics, Legal & Regulation

January 17, 2017 @ 3:49 pm By JD Alois  |  

Theresa May was selected to manage the profound ramifications of the Brexit decision. While many questions remain, her actions will impact the UK economy for many years – perhaps generations. May, outlined her vision for exiting the UK on January 2017.  Her speech highlighted her… Read More

January 17, 2017 @ 12:32 pm By JD Alois  |  

Financial Innovation Now (FIN) has sent a letter to the Office of the Comptroller (OCC) of the Currency in support of the OCC’s initiative to support Fintech innovation. FIN is an alliance of big tech including; Apple, Amazon, PayPal, Intuit and Google (Alphabet). As big… Read More

January 16, 2017 @ 9:18 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) is in the midst of a research push. The CCAF is in the midst of not one, but three different surveys on the alternative finance ecosystem. Late last year, the CCAF announced a unique partnership with the Financial… Read More

January 15, 2017 @ 3:10 pm By JD Alois  |  

Better late than never, the National Economic Council, part of the Obama Administration’s White House, has published a “Framework for Fintech” outlining their principles for policy on financial innovation. Adrienne Harris, a Special Assistant to the President for Economic Policy and Alex Zerden, a Presidential… Read More

January 14, 2017 @ 5:23 pm By JD Alois  |  

  The Office of the Comptroller of the Currency is still accepting comments on the proposed Fintech Charter for financial firms looking to operate with a federal charter. The deadline was initially set for January 15th but one report says the OCC has pushed the… Read More

January 13, 2017 @ 5:08 pm By JD Alois  |  

The Dodd–Frank Wall Street Reform and Consumer Protection Act has become an iconic act of legislation for the Democratic party. Not because it is good legislation but because its demise represents a profound retrenchment of what they fought so hard to accomplish. This is a… Read More

January 12, 2017 @ 3:11 pm By JD Alois  |  

The Marketplace Lending Association has called on Congress, and the incoming Trump Administration, to become a catalyst for Fintech innovation and not an obstacle. In a letter addressed to House and Senate leaders, Nathaniel Hoopes, Executive Director of the MLA, asked Congress to move  away… Read More

January 12, 2017 @ 1:11 pm By JD Alois  |  

The Marketplace Lending Association (MLA) has announced the addition of 11 new members. Joining founding members Lending Club, Prosper and Funding Circle are the following lending platforms: Affirm Upstart CommonBond Avant PeerStreet Marlette Funding Sharestates Able StreetShares New Associate Members include dv01 and LendIt The MLA… Read More

January 10, 2017 @ 6:24 pm By JD Alois  |  

The Helping Angels Lead Our Startups Act or HALOS Act passed the House today with solid bipartisan support. The final vote stood at 344-73.  The HALOS Act, sponsored by House Small Business Committee Chairman Steve Chabot, addressed a nagging issue regarding when a business may make… Read More

January 10, 2017 @ 1:02 pm By JD Alois  |  

Senators Sherrod Brown and Jeffrey Merkley have published a letter, sent to Thomas Curry, Comptroller of the Office of the Comptroller of the Currency (OCC), bashing his push to create a Fintech charter for innovative financial firms. Brown and Merkley state; “While we share your… Read More

January 8, 2017 @ 2:45 pm By JD Alois  |  

Finland’s Ministry of Finance has published an update on the nascent Finish crowdfunding industry.  According to their report,  Finland’s crowdfunding market more than doubled in size during 2016. The Finish government estimates the total amount raised during 2016 stands at €153 million in contrast to the… Read More

January 6, 2017 @ 4:59 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has announced several high level leadership changes within the Bureau. The positions announced today are: the Chief of Staff; the Chief Information Officer; the Chief Financial Officer; the Assistant Director of Consumer Lending, Reporting, and Collections Markets; and the… Read More

January 4, 2017 @ 4:43 pm By JD Alois  |  

Financial regulations are often enacted with little concrete definition, to say nothing of quantification, of their costs and benefits. Regulators and economists have little understanding of causal mechanisms that may provide benefits and incur costs. Worse, they often think they know cause and effect, either… Read More

January 4, 2017 @ 10:36 am By JD Alois  |  

Multiple news sources are reporting that Jay Clayton will be President-elect Donald Trump’s selection for the Chair of the Securities and Exchange Commission (SEC). Reuters published a statement by President-elect Trump; “Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and… Read More

December 31, 2016 @ 4:50 pm By JD Alois  |  

The European Commission has announced the appointment of a group of individuals to advise on sustainable finance. The initiative is part of the ongoing Capital Markets Union (CMU) which took a serious blow following the Brexit decision.  The intent of the expert group is to… Read More

December 30, 2016 @ 9:11 am By JD Alois  |  

Former SEC Commissioner Daniel Gallagher visited the studios of CNBC yesterday to share his perspective on the SEC under the Trump administration.  Gallagher is one of the names being bandied about as the Republican pick for the SEC Chair.  Another possibility is another former Commissioner… Read More

December 29, 2016 @ 11:32 pm By Jessica Pham  |  

Tapestry Networks and Ernst & Young (EY) published a report this month focused on global revolutionary changes that will affect the financial services sector.  The full version of the report is below. The report is a result of the October 5-6, 2016 Financial Services Leadership Summit in… Read More

December 29, 2016 @ 7:30 am By Samuel Guzik  |  

The beginning of a new year is typically accompanied by renewed hope and positive expectations. 2017 is no exception.  As a staunch advocate of promoting the interests of small business generally, and smart regulation of capital formation, in particular, 2017 stands out to me as… Read More

December 27, 2016 @ 5:01 am By Emma Peck  |  

2016 brought with it many positive developments for startups in terms of capital access and tax policy. Investment crowdfunding finally went live, a number of bills to facilitate capital formation passed the House, and the startup community galvanized around a tax bill that would make… Read More

December 24, 2016 @ 8:47 am By Therese Torris  |  

For Reid Feldman and Hubert de Vauplane of the Paris Office of Law Firm Kramer Levin, the latest revisions of the French crowdfunding regulation are part of a broader effort by the French authorities to relax the monopoly of French banks on credit and extend… Read More