Politics, Legal & Regulation

February 27, 2016 @ 7:52 am By JD Alois  |  

The European Commission is in the midst of a consultation as to how they may improve retail financial services to consumers across Europe.  The challenge, of course, is not just within individual countries, but in the diversity of cost, structures and regulatory approaches that pepper… Read More

February 25, 2016 @ 9:44 pm By JD Alois  |  

There were several informative presentations delivered today at the convening of the Advisory Committee on Small and Emerging Companies (ACSEC) at the SEC.  One of the presentations, shared by Jeffrey Sohl, Professor of Entrepreneurship & Decision Science Director, at the University of New Hampshire, addressed… Read More

February 25, 2016 @ 4:02 pm By JD Alois  |  

The Payment Systems Regulator (PSR) has told UK banks they should “sell their stake in UK payments infrastructure”. The statement comes after the release of an interim report that reviews the UK’s payment system. The assessment pretty much tells banks they are stifling innovation and competition…. Read More

February 25, 2016 @ 11:22 am By JD Alois  |  

Scott W. Bauguess, Deputy Director, Division of Economic and Risk Analysis at the SEC, delivered an interesting presentation  during the ACSEC meeting today. Bauguess updated the group with data on raising private capital post the JOBS Act of 2012.  Bauguess acknowledged that fewer companies are… Read More

February 24, 2016 @ 9:49 pm By JD Alois  |  

In a report published today by HM Treasury, in partnership with EY, the UK declared global domination in the world of Fintech. The UK has consistently punched above its weight-class when it has come to financial innovation.  The Brits have benefited from elected officials that… Read More

February 24, 2016 @ 9:03 am By JD Alois  |  

Jake Wombwell-Povey, CEO & co-founder of Goji Holdings – a service provider for P2P platforms offering Innovative Finance ISAs (IFISA), has shared a comment letter submitted to HM Revenue & Customs.  According to the missive, the Financial Conduct Authority (FCA) and HMRC are not quite… Read More

February 23, 2016 @ 11:47 am By JD Alois  |  

New regulations designed to facilitate investment crowdfunding are weaving their way through the rule making process in Australia. Recently proposed rules have engendered both support and criticism. This past December, the Aussie Senate referred the updated proposal of the “Crowd-Sourced Funding Bill” to the Economics… Read More

February 22, 2016 @ 10:41 am By JD Alois  |  

The UK has been the leading country in regards to internet finance as the sector has garnered solid support from not just entrepreneurs but elected and appointed officials. Their simplified “light touch” regulatory approach has created a sector that has experienced rapid growth. In 2015,… Read More

February 21, 2016 @ 10:29 pm By Nathan Rose  |  

  The recent changes in the retail equity crowdfunding regulatory environment make this a useful time to take stock of the international landscape and compare regimes between countries. Some countries have moved faster than others, and different countries have taken different approaches to regulation, ranging… Read More

February 21, 2016 @ 2:35 pm By JD Alois  |  

The Federal Deposit and Insurance Corporation (FDIC) Winter report includes a discussion on the marketplace lending sector. More specifically, the portion authored by Angela Herrboldt, Senior Examination Specialist Division of Risk Management Supervision, reviews risk and the importance of bankers and examiners understanding this fast… Read More

February 19, 2016 @ 6:07 pm By JD Alois  |  

Thai financial regulators including the SEC and the Bank of Thailand (BOT) are moving forward with supporting Fintech initiatives and equity crowdfunding specifically. Somkid Jatusripitak, Deputy Prime Minister in charge of Economic Affairs, recently declared 2016 Thailand’s “Investment Year”, as the southeast Asian country tries… Read More

February 19, 2016 @ 9:04 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a report on due diligence and assessing suitability of investments for clients. This is an important subject for traditional finance, as well as new asset classes. As all finance moves online access to investment opportunity will expand to… Read More

February 18, 2016 @ 10:25 pm By Anthony Zeoli  |  

  There has been a lot of chatter and debate lately on how, or even if, the current definition of “accredited investor” should be substantively changed. To date, however, there has only been one affirmative action taken to actually change the definition which I am… Read More

February 18, 2016 @ 5:54 pm By JD Alois  |  

California, a state that has an economy larger than most sovereign nations, has attempted several times to pass an intrastate crowdfunding law.  Somehow the legislative gods have shown disfavor on providing online access to capital for SMEs in the Golden State. Perhaps the 3rd time… Read More

February 17, 2016 @ 6:52 pm By JD Alois  |  

The Securities and Exchange Commission has announced the agenda for the forthcoming Advisory Committee on Small and Emerging Companies (ACSEC) which is scheduled to meet next week on February 25th.  ACSEC provides a formal mechanism for the SEC to receive advice and recommendations on small… Read More

February 16, 2016 @ 3:15 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has published an investor bulletin on Reg CF or retail crowdfunding. This is the portion of the JOBS Act that allows anyone to invest in securities online, not just accredited investors. The new exemption is different from Reg A+,… Read More

February 14, 2016 @ 1:56 pm By JD Alois  |  

In an Q&A session with Steven Bochner of the Securities Regulation Insitute, SEC Mary Jo White shared some insight into the rule-making process surrounding the JOBS Act and the various investment crowdfunding regulations enacted by the SEC. In listing the agencies accomplishments under her guidance,… Read More

February 14, 2016 @ 1:01 pm By JD Alois  |  

The Ministry of Public Security (MPS) has launched a website where investors may submit platforms where they have been swindled out of their money. The new site is said to be designed to aid authorities as they investigate dodgy platforms.  The announcement, published in China News,… Read More

February 12, 2016 @ 6:35 pm By JD Alois  |  

In a public letter, members of the sharing economy came together to ask the European Commission to urge Member States to support objectives regarding the collaborative economy as part of the Digital Single Markets Strategy.  The diverse group demanded that policy makers; “…continue to seek… Read More

February 11, 2016 @ 11:14 pm By JD Alois  |  

  In Australia, the process to update the regulatory environment to facilitate equity crowdfunding has been a long journey. Back in 2014,  proposed rules by the Corporations and Markets Advisory Committee (CAMAC) were criticized by one industry leader as “totally unworkable”. No need to say more. At… Read More