Politics, Legal & Regulation

August 11, 2016 @ 8:42 am By JD Alois  |  

Equity crowdfunding platform Seedrs has recently surveyed their customers on Brexit fallout and the results are encouraging. While the number of respondents were small (120), according to Seedrs, 52% of respondents believe London will maintain the title of global hub for international entrepreneurs even with… Read More

August 9, 2016 @ 10:20 pm By JD Alois  |  

Financial Conduct Authority (FCA) Chief Executive Andrew Bailey gave a Parliament Treasury Committee a crash course on Crowdfunding 101 this past June.  The letter by Bailey was recently posted on the Treasury Committee website, along with a statement from Andrew Tyrie MP, Chairman of the Committee,… Read More

August 9, 2016 @ 11:09 am By JD Alois  |  

The Competition & Markets Authority announced sweeping changes to the UK banking industry today. The update to the retail banking sector was driven by an acknowledgement that little competition existed within the retail banking sector and thus consumers were coming up short in regards to… Read More

August 9, 2016 @ 9:50 am By JD Alois  |  

“CMA Sticks to its Guns” The Competition and Markets Authority (CMA) has published its final report on the UK retail banking sector. The government initiative has concluded that highstreet banks do not compete enough for customers’ business. Simultaneously, challenger banks find it difficult to compete… Read More

August 6, 2016 @ 8:50 am By JD Alois  |  

Recently the Swedish government announced the creation of a Committee to review the regulatory environment for investment crowdfunding. The former Supreme Court Justice, Severin Blomstrand, was appointed to chair the ten person Committee and oversee the review. The initiative will look into such issues as… Read More

August 4, 2016 @ 8:15 am By JD Alois  |  

  The Bank of England (BoE) has cut its benchmark rate by 0.25% – the first time in 7 years. The pound quickly moved lower reacting to the announcement. The move was telegraphed several weeks back in reaction to Brexit fallout. The interest rate cut… Read More

August 1, 2016 @ 9:14 pm By JD Alois  |  

The Swedish government announced last week it had appointed a commission to investigate crowdfunding and the potential for improved opportunities to provide access to capital. Swedish Finance Minister Per Bolund stated there was a need for innovative solutions for the funding of small and emerging… Read More

July 31, 2016 @ 7:44 pm By JD Alois  |  

Last week the Payments Systems Regulator (PSR) announced that reform is needed in the UK payments sector to improve competition and better serve consumers.  The announcement was made by the one-year-old agency following a report on payments released by the PSR. The PSR stated that there… Read More

July 29, 2016 @ 10:19 am By JD Alois  |  

Senator Sherrod Brown and Senator Jeffrey Merkley, both members of the Senate Banking Committee, sent a letter last week to several governmental agencies inquiring about Fintech and regulations. The letter was addressed to: Janet Yellen, Chair of the Federal Reserve, Martin Gruenberg, Chair of the… Read More

July 29, 2016 @ 8:29 am By JD Alois  |  

Even while Brexit pushes pause on so many policy issues, the implementation of Markets in Financial Instruments Directive “II” (MiFID II) moves forward in the UK. The MiFID is a collective regulatory approach to streamlining the purchase and sales of securities across Europe. MiFID II… Read More

July 28, 2016 @ 5:45 pm By Anthony Zeoli  |  

In early June, the U.S. House of Representatives, Financial Services Committee, approved the “Fix Crowdfunding Act” bill (HR 4855). Maybe it’s the title of the bill that is misleading, but since then I have seen multiple articles which incorrectly describe what this legislation, if fully… Read More

July 27, 2016 @ 10:34 pm By JD Alois  |  

  Canada is the second largest country in the world by land mass and the 10th largest economy by nominal GDP. At around 35 million in total population, Canada is a country that has consistently punched above its weight class economically. The extensive border with… Read More

July 27, 2016 @ 10:42 am By JD Alois  |  

The Alberta Securities Commission (ASC) in Canada has published two initiatives designed to facilitate capital-raising for SMEs. First, the ASC has adopted ASC Rule 45-517 Prospectus Exemption for Start-up Businesses (ASC Rule 45-517). Immediately available, the new rule provides a prospectus exemption for small Alberta companies… Read More

July 26, 2016 @ 2:50 pm By JD Alois  |  

The Financial Conduct Authority (FCA) in many ways is the most innovative regulatory body in the world today. Yes, I know. It can be hard for some people to see the word “Regulation” next to “Innovation” when referencing a government agency. But the proof is… Read More

July 26, 2016 @ 12:22 pm By JD Alois  |  

Last week at the opening of Fintech Week in the UK, Christopher Woolard, Director of Strategy and Competition at the FCA, delivered a speech on Fintech innovation and the benefits of RegTech. He also provided an update on Project Innovate since launch. Woolard, as one… Read More

July 26, 2016 @ 9:14 am By JD Alois  |  

The UK Peer to Peer Finance Association has released a letter addressed to Andrew Bailey, Chief Executive of the FCA, buttressing their position regarding the recent dialogue with the House of Commons’ Treasury Select Committee. This past June, Andrew Tyrie, MP, Chairman of the Committee,… Read More

July 25, 2016 @ 5:44 pm By JD Alois  |  

The Financial Conduct Authority (FCA) has finally “fessed up” and publicly admitted to what everyone already knew. They are backed up and behind in processing authorizations for firms seeking their stamp of approval.  Of course, this includes alternative finance platforms and P2P lenders seeking approval… Read More

July 25, 2016 @ 1:46 pm By JD Alois  |  

Gillian Roche-Saunders, is a partner at the law firm of Bates, Wells & Braithwaite in London.  She is a leading regulatory consultant in the Fintech sector having been engaged in alternative finance for the past five years – before the FCA jumped in to officially… Read More

July 25, 2016 @ 10:48 am By JD Alois  |  

What we do know about the Brexit is that uncertainty equals risk. And additional risk compels investors to become more cautious in their actions. With so many unknowns regarding the ramifications of the Brexit decision, it is going to take some time to sort things… Read More

July 24, 2016 @ 7:54 pm By JD Alois  |  

Just because small events like Brexit crop up does not mean the UK is going to slow down its drive for Fintech relevance and dominance. This week the Financial Conduct Authority (FCA) and the Korean Financial Services Commission (FSC) signed a “regulatory cooperation agreement”. This new… Read More