Tagged: regulation

November 2, 2016 @ 12:31 pm By JD Alois  |  

The Massachusetts Securities Division has proposed new regulations pertaining to securities offered under Tier II of Regulation A+ and Reg CF, both created by the JOBS Act of 2012.   The state agency has also proposed notice filings for Reg CF portals. The proposal is… Read More

October 20, 2016 @ 6:05 am By Erin Hobey  |  

The European Fintech Alliance, established in Berlin early this summer, seeks to represent the interests of startups in the political arena and to build bridges between policymakers and regulators at European level.  The platform touts a non-national, but EU-wide approach, for FinTechs only. Initiated by political… Read More

October 17, 2016 @ 11:21 am By Georgia Quinn  |  

Let me begin by saying god bless Congressman Patrick McHenry. He is out there on the front lines actually trying to make a difference and help entrepreneurs and small businesses get off the ground and succeed. Of course, no good deed goes unpunished, and a… Read More

October 16, 2016 @ 8:00 am By JD Alois  |  

Last week, the North American Securities Administrators Association (NASAA) issued a statement in support of updating Rule 147 and Rule 504 of Reg D – rules that impact intrastate crowdfunding.  The statement by NASAA supported a letter sent out by several members of the Congress… Read More

October 11, 2016 @ 12:52 pm By JD Alois  |  

The Consumer and Financial Protection Bureau (CFPB) has been labeled “unconstitutional” by a federal appeals court.  The ruling addressed specifically the agency’s structure and the amount of control exercised by its director – currently Richard Cordray.  The ruling allows for the CFPB to continue to… Read More

October 1, 2016 @ 3:37 pm By JD Alois  |  

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

August 3, 2016 @ 10:45 am By JD Alois  |  

China is the largest Fintech market in the world. This is due in part to the fact that China has a population that is north of 1.3 billion and economically is first in GDP (PPP) at over $20 trillion. But it is also due to… Read More

July 30, 2016 @ 3:30 pm By Chen Hungyi  |  

As of July 2016, there are three equity-crowdfunding platforms in Taiwan, including Startup Shares, eFUN, and Crowdfund Masterlink. According to equity crowdfunding regulations in Taiwan, it is necessary to apply for a securities broker license. However, if the securities broker operates only an equity crowdfunding… Read More

July 12, 2016 @ 8:12 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a Competition Report, alongside their annual report this year. Incorporated in HM Treasury’s 2015 Productivity Statement, the FCA was asked to produce a standalone annual competition report to show how well they are delivering on their competition objective…. Read More

May 18, 2016 @ 11:10 am By Therese Torris  |  

Crowdfunding is flourishing all around the world, exhibiting double or even triple digit growth rates in many markets, from the US to the UK to China. Governments have seen this boom as both an opportunity and a challenge. From 2012 on, they started responding by… Read More

May 5, 2016 @ 3:57 pm By JD Alois  |  

  This past Tuesday (May 3rd), twenty members of Congress joined to ask the Secretary of the Treasury, Jack Lew, to tread lightly when it came to the emerging marketplace lending industry. The timing of bi-partisan missive is important as Treasury has announced it will… Read More

May 4, 2016 @ 8:24 am By JD Alois  |  

Starting and creating a new business is a highly risky endeavor.  Yet these same small businesses are the ones that create the most jobs and drive economic growth. In brief, SMEs are imperative for society as a whole. The UK has supported an innovation-based economy… Read More

April 22, 2016 @ 7:07 pm By JD Alois  |  

  Last week the House Subcommittee on Capital Markets, part of the powerful House Financial Services Committee, debated several important bills that may boost access to capital for SMEs.  One of the bills, the Fix Crowdfunding Act (HR 4855), has the profound potential to turn… Read More

April 20, 2016 @ 11:35 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has published a report on the online payday loan industry. The document, embedded below, analyzes ACH payment requests by a number of online lenders that make (or made) online payday or other high-cost online loans with payments scheduled on… Read More

April 18, 2016 @ 11:12 pm By Robin Sosnow  |  

Exploring the dynamics of equity crowdfunding and provoking thought about what crowdfunding means to you.  Crowdfunding has always existed, and will continue to exist, as long as there are people and scarcity of resources. People have pooled and transferred resources for the benefit of another,… Read More

April 18, 2016 @ 7:47 pm By JD Alois  |  

In a letter addressed to the General Accounting Office (GAO), signed by Democratic Senators Jeff Merkley, Sherrod Brown, and Jeanne Shaheen, a request was made to research and make recommendations regarding Fintech and Peer to Peer / Marketplace Lending. The letter, dated April 18, 2016,… Read More

April 17, 2016 @ 10:43 am By JD Alois  |  

The International Organization of Securities Commissions (IOSCO) has included crowdfunding, bitcoin / cryptocurrencies in their March report as part of their long list of investor risks and concerns regarding financial stability. IOSCO is the international body that brings together securities regulators from around the world…. Read More

April 15, 2016 @ 9:11 am By JD Alois  |  

The government of Finland has submitted its proposal to update the regulatory environment for raising capital online. According to a recent release by the Ministry of Finance, the new Act will ease the regulation of investment-based crowdfunding and clarify the rules for loan-based crowdfunding. The “Crowdfunding… Read More

March 7, 2016 @ 4:00 am By Scott Andersen  |  

The recent economic downturn is not the only challenge for entrepreneurs in the EB-5 and JOBS Act industries.  Rather, the challenges include close regulatory scrutiny by the United States Securities and Exchange Commission’s (SEC) Division of Enforcement.  While both EB-5 and the JOBS Act were… Read More

February 29, 2016 @ 3:55 pm By JD Alois  |  

Embedded below is the most recent run at creating an intrastate crowdfunding exemption for the state of California. The bill (AB 2178) was introduced earlier this month by Assembly Member David Chiu, with principle coauthor Senator Ben Allen. Granted, the legislation has a long ways… Read More