Tagged: brian korn

Attorney Brian Korn: Fintech Charters Will NOT be Effective Unless Federal Preemption is Available to Holders

After years of discussion, and multiple attempts by traditional finance to block a Fintech Charter offered by the Office of the Comptroller of the Currency (OCC), in a surprise move the OCC announced this week it would begin accepting applications from Fintechs to gain a… Read More

Joseph Otting Has a Lot on His Plate as the New Comptroller

Joseph Otting, a former banker and CEO of OneWest Bank, was approved by the Senate in a party line vote last week to take over the helm at the Office of the Comptroller of the Currency (OCC). As Comptroller, Otting will be stepping into an… Read More

Brian Korn, Donna Wilson & Richard Gottlieb Will Now Lead Manatt’s Financial Services Group

Manatt, Phelps & Phillips, LLP, has announced new co-chairs of the firm’s financial services group. Three attorneys have been appointed to this leadership role including Brian Korn, Donna Wilson and Richard Gottlieb. The three attorneys are spread across the country with Gottlieb located at the firm’s… Read More

Brian Korn on OCC Fintech Charter: Novel Attempt by Regulator to Adjust to Changing Times

The concept of a Fintech Charter for emerging firms in the financial services industry has generated plenty of attention on Capitol Hill and with Fintech entrepreneurs. Originally pitched by the Office of the Comptroller of the Currency towards the end of last year, a comment… Read More

Brian Korn Says CFPB on the Offensive with CashCall Action & More

Brian Korn, a prominent attorney in the alternative finance sector, says the Consumer Financial Protection Bureau (CFPB) is on the offensive. Korn pointed to recent settlements with LendUp and CashCall as indicative of its aggressive approach towards financial service enforcement. At the end of 2013,… Read More

Congressional Committee Reviews Marketplace Lending

  Do Online Lenders Benefit from Regulatory Arbitrage? Yesterday (July 12), the subcommittee on Financial Institutions and Consumer Credit (part of the House Financial Services Committee) hosted an educational hearing on Fintech and Marketplace Lending. The meeting saw the participation of several industry executives including… Read More

Legal Experts Respond to SCOTUS Decision Not to Review Second Circuit Madden vs. Midland Decision

Reactions to the Supreme Court decision declining to review the Second Circuit court decision regarding Madden vs. Midland are starting to crop up. The case is one that is being widely watched by the marketplace and online lending industry. Vincent Basulto, a partner at Richards… Read More

Deck: Marketplace Lending Using Reg A+

Regulation A+, an updated exemption created by Title IV of the JOBS Act of 2012, took a largely moribund exemption and turned it into something useful. Old Reg A was crippled by state blue sky review. The SEC, given the necessary latitude by Congress to… Read More

Loan to San Bernardino Terrorists Came from Marketplace Lending Platform. What Does this Mean for the Industry?

There was much chatter regarding the origin of the $28,500 transfer into the accounts of Syed Farook and Tashfeen Malik, the San Bernardino terrorist that brutally killed 14 innocent people. It quickly came to light the loan had originated from Prosper, a leading marketplace lending… Read More

StreetShares Files Reg A+ Offer to Raise $50 Million in Debt

StreetShares, marketplace lending platform that connects small business owners with investors, has filed a Regulation A+, Tier 2 offer to raise up to $50 million in debt securities. The filing was posted on December 4th. In using Regulation A+, StreetShares will be allowed to solicit… Read More

LendTech Angels Hosts First Successful LendLab for FinTech Entrepreneurs

Despite a hot and rainy New York City morning, there was a great turn-out at LendTech Angels’ first LendLab event.  Hosted by Kiran Lingam, managing director of LendTech Angels, the event gave aspiring marketplace lending startups an education in the regulatory landscape they are entering…. Read More

A Prominent Attorney Sees Regulation A+ as Perfect to Raise Debt Capital

Title IV of the JOBS Act fixed some of the issues swirling around old Regulation A.  Lightly utilized in its previous incarnation, Regulation A+ (as it is commonly called) created two different funding tiers which allow non-accredited investors access to a new securities exemption and… Read More

CFPA & CFIRA Partner on Webinar, “The Jobs Act: Funds as Alternative Investment Structures”

The Crowdfunding Professional Association (CFPA) and the Crowdfunding Intermediary Regulatory Advocates (CFIRA), the two leading crowdfunding advocacy associations in the US, have partnered up to offer a free webinar on the JOBS Act.  The duo are presenting “The JOBS Act: Funds as Alternative Investment Structures”… Read More

Manatt Hires Pepper Hamilton Founder As New Partner; Expands Capital Markets & Financial Services Capabilities in New York

Manatt, Phelps & Phillips, LLP, announced today that Brian S. Korn has joined the firm’s Corporate and Finance practice as a partner in its New York office. He joins the firm from Pepper Hamilton LLP, where he founded and co-led the firm’s crowdfunding and peer-to-peer lending practice. Korn focuses… Read More

Seminar Will Tackle New Regulatory Framework of Crowdfunding

Gathering Features JOBS Act Advocates Including; Congressman Patrick McHenry, David Weild , Sam Guzik, Doug Ellenoff, Sara Hanks, Brian Korn and more. Next week in New York City a group of crowdfunding industry advocates, legal though leaders and securities analysts will gather to discuss the… Read More

The promise and risks of the crowd

(We) find it impressive that three Philly 50 companies – which tend to be large, established companies – went public in 2012. Epam Systems Inc., Five Below Inc., and Globus Medical Inc. are fairly young companies that spent years preparing for Wall Street-underwritten initial public… Read More

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