Politics, Legal & Regulation

June 15, 2016 @ 9:32 am By JD Alois  |  

Yesterday the United States Court of Appeals, DC Circuit, denied a case challenging the Securities and Exchange Commission and their rules under Title IV of the JOBS Act, otherwise known as Reg A+. The enjoined case brought by the states of Montana and Massachusetts saw… Read More

June 14, 2016 @ 1:21 pm By JD Alois  |  

The United States Court of Appeals, for the District of Columbia Circuit, has shot down an attempt by state regulators to turn back Title IV of the JOBS Act, also called Regulation A+. The action filed against the SEC was brought to bear by the… Read More

June 14, 2016 @ 12:11 pm By JD Alois  |  

In 2011, an average of 8,000 small and micro businesses were denied funding each day from traditional banks. This statement is not from some fanatical Fintech entrepreneur but our current Secretary of the Treasury, Jack Lew.  It is this profound gap between demand, and supply,… Read More

June 14, 2016 @ 7:50 am By Karmei Tse  |  

This is interesting. The Monetary Authority of Singapore (MAS), a typically conservative government agency, has just released its proposal regarding raising capital online, including a guide on General Solicitation with examples for restricted and unrestricted platforms.  MAS has waved its digital wand over the private… Read More

June 13, 2016 @ 6:51 pm By JD Alois  |  

Testing the Waters, or TTW as it is called, is being successfully leveraged during Reg A+ crowdfunding campaigns. The concept is pretty simple.  For issuing companies that want to raise capital online, using TTW allows them to gauge investor interest.  Investors may register with a… Read More

June 13, 2016 @ 3:16 pm By JD Alois  |  

Mary Jo White, the Chair of the Securities and Exchange Commission, will be presenting before the Senate Committee on Banking, Housing, and Urban Affairs. The open session, scheduled for this Tuesday, June 14 at 9AM, has been labeled, “Oversight of the US Securities and Exchange… Read More

June 13, 2016 @ 10:35 am By JD Alois  |  

The White House organized a Fintech stakeholder meeting last week to discuss how “Fintech can help advance critical economic policy priorities.” Even while a plethora of regulatory agencies is circling to put the breaks on Fintech innovation, it is somewhat encouraging the Executive branch of… Read More

June 13, 2016 @ 9:00 am By JD Alois  |  

The House Financial Services Committee will consider the Fix Crowdfunding Act (HR 4855) alongside several other bills during their meeting this week (Jun 15, 2016) beginning at 10AM.  The Committee meetings are live-streamed on the Committee’s website. The Fix Crowdfunding Act is widely viewed as… Read More

June 12, 2016 @ 5:19 pm By JD Alois  |  

Embedded below is another comment letter regarding a bill circulating now on Capitol Hill called the Fix Crowdfunding Act (HR 4855). The proposed legislation, sponsored by Congressman Patrick McHenry, was crafted to fix some the most glaring omissions from Title III of the JOBS Act…. Read More

June 11, 2016 @ 10:00 am By JD Alois  |  

The Federal Trade Commission (FTC) held its first in a series of forums on Fintech this past week.  At the top of the list was the marketplace lending sector. Marketplace lending, originally labeled Peer to Peer lending, has been a hot topic within the financial… Read More

June 10, 2016 @ 2:00 pm By JD Alois  |  

Wefunder, one of the active participants in the Reg CF crowdfunding space, has published a comment letter directed towards Representatives Jeb Hensarling and Maxine Waters in support of the Fix Crowdfunding Act (HR 4855).  The two are powerful legislators in the House of Representatives. Hensarling… Read More

June 10, 2016 @ 9:16 am By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) published a report earlier this spring entitled, “Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective.” While the name may a bit convoluted the report is basically about Fintech and the financial system as… Read More

June 10, 2016 @ 7:38 am By JD Alois  |  

This week the Monetary Authority of Singapore (MAS) revealed their approach to “securities crowdfunding” announcing that platforms may raise up to S$5 million (USD $3.7million) from both sophisticated and retail investors.  The approach is more in line with the UK than the US providing a… Read More

June 9, 2016 @ 3:00 pm By Samuel Guzik  |  

  It’s been more than four (very long) years since the Jumpstart Our Business Startups Act (the JOBS Act) made its debut, with much fanfare, in the White House Rose Garden. And on May 16, 2016, the official date of the emancipation of investment crowdfunding… Read More

June 9, 2016 @ 7:48 am By JD Alois  |  

In February of 2015, the Monetary Authority of Singapore (MAS) published a consultation paper on facilitating investment crowdfunding.  Yesterday MAS published a “Response to Feedback Received” sharing their perspective on easing restrictions to raise capital online. MAS also publish a brief FAQ regarding proposals for… Read More

June 9, 2016 @ 7:20 am By Samantha Hurst  |  

On Wednesday (June 8), the Monetary Authority of Singapore (MAS) announced it is revamping the country’s crowdfunding industry by offering new ways for small and medium enterprises (SMEs) to gain access to funds through securities-based crowdfunding (SCF) platforms easier. MAS stated in a press release it… Read More

June 8, 2016 @ 7:09 pm By Anthony Zeoli  |  

  The UK crowdfunding market is the leading, and most successful, crowdfunding market for several reasons. Arguably the primary reason for their success is that the UK tailored, and continues to tailor, their securities laws specifically to promote crowdfunding/P2P lending. A lesser known reason, however,… Read More

June 8, 2016 @ 3:30 pm By JD Alois  |  

In a posting on the White House blog, Doug Rand and Thomas Kalil, two officials from the Executive Offices, have touted the benefits and potential of Reg CF crowdfunding as enacted under Title III of the JOBS Act of 2012. Rand is the Assistant Director… Read More

June 7, 2016 @ 6:17 pm By JD Alois  |  

At a speech delivered at the Economic Club of New York’s meeting in Manhattan this morning, the Chairman of the House Financial Services Committee, Congressman Jeb Hensarling, presented a plan to overhaul the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank, as it is… Read More

June 7, 2016 @ 1:55 pm By Erin Hobey  |  

The Monetary Authority of Singapore (MAS) has issued a consultation paper proposing a regulatory sandbox for fintech startups and pilot schemes, according to a release. The proposal aims to enable firms to experiment with new technology in an environment of relaxed rules and appropriate safeguards. The consultation will… Read More