Tagged: regulations

Comptroller of the Currency, Thomas Curry, Delivers Speech on Importance of Fintech Innovation

“That ability to adapt and evolve to meet the changing needs of customers and the marketplace is as critical” Thomas Curry, the Comptroller of the Currency, delivered a speech today at Kellogg School of Management in Chicago. The speech comes at an interesting time as… Read More

Germany: Lawmakers Must Strengthen Market for Investment Crowdfunding

Jamal El Mallouki, CrowdDesk CEO and current Chair of the German Crowdfunding Association (Bundesverband Crowdfunding), wants to boost the German crowdfunding market and affiliated regulatory framework. To improve the crowdfunding ecosystem, El Mallouki and the Association have published three concrete proposals for policymakers to pursue. In… Read More

Singapore on Regulating Fintech: “Financial Regulators Should not be Afraid to Work Collaboratively”

This is a special time of the year in Washington, DC. It is the annual Spring Meetings of the IMF and World Bank meaning a diverse group of policymakers and regulators descend upon the US Capitol clogging restaurants and over-booking hotels. This also means there… Read More

Harvard Kennedy School Study Recommends P2P Marketplace Policy Overhaul

The proliferation of P2P marketplace, and most importantly online lending brings a competitive challenge for existing financial institutions that is here to stay. Its meteoric rise has provoked regulators around the world to deliberate on the new models of oversight needed to benefit consumers and… Read More

China: WeiyangX Fintech Review

Wecash Nails Down Series C Funding with $ 80 million Big Data Company Wecash raised $ 80 million in series C funding led by China Merchants Capital, Fore Bright Capital and SIG. Two new investors – Dongfang Hongdao Asset Management and Lingfeng Capital joined the existing… Read More

Regulatory Notice: FINRA Asks for Comments on Capital Formation Including Crowdfunding & More

The Financial Industry Regulatory Authority (FINRA) has filed a regulatory notice and a request for comments regarding capital formation. The review includes aspects of the JOBS Act and crowdfunding. FINRA said the request for comments was part of its FINRA360 initiative, a comprehensive review of… Read More

Kabbage Co-Founder & Head Fintecher Kathryn Petralia: Power Lending, Predictions & Progress

  “Fintech, online lending, AI and privacy are complicated issues, so we’ve created innovative solutions and approaches that D.C. embraces once they understand them. Our message to Washington is: call us! We have someone to translate tech speak and “bureaucratese” for all of Washington’s questions.”… Read More

SEC Releases New Compliance & Disclosure Interpretations On Regulation Crowdfunding

Yesterday, the SEC’s Division of Corporate Finance released two new Compliance & Disclosure Interpretations (C&DIs) answering questions related to Regulation Crowdfunding (Reg CF). CD&Is are the Commission’s way of giving some informal guidance, through a question and answer format, on how its staff members interpret certain rules. They… Read More

No April Fools: North Carolina Crowdfunding Law Kicks in on April 1st

The North Carolina Providing Access to Capital for Entrepreneurs and Small business Act (NC PACES Act) was signed into law in July 2016. Final rules were adopted on March 31, 2017 and were filed with the NC Codifier of Rules on the same day. Subsequently, the rules… Read More

Chinese P2P Lenders Are Still Having Trouble Finding Bank Custodians

China’s peer-to-peer (P2P) lending market is the largest in the world, but recently the industry has come under increased regulation from the Chinese government. Just a month ago, the China Banking Regulatory Authority (CBRA) imposed a new policy that would require all P2P lenders to appoint… Read More

Time for Reform: FINRA Posts Special Notice Requesting Comments on How to Best Further its Mission

The Financial Industry Regulatory Authority or FINRA is seeking feedback on how to best execute on its mission to regulate members who operate in the securities industry. FINRA has come under criticism in recent years as losing touch with its membership and negating its “Self-Regulatory Organization”… Read More

Attention! Crowdfunding (Reg CF) Filing Deadline: Don’t Get Caught Unaware

Many entrepreneurs that successfully raised money using the newly enacted Regulation CF (or Reg CF for short) have likely tried to put the tiresome process behind them and are focusing on company operations and executing on their business plans. However, all successful issuers need to… Read More

The OCC Issues Draft Requirements for a Fintech Charter. Is a Charter for Innovative Financial Firms Dead in the Water?

As expected, the Office of the Comptroller of the Currency has published a draft licensing manual regarding the creation of a Fintech Charter. The draft is a supplement to the agency’s existing Licensing Manual and explains how Fintech firms may apply for special purpose bank charters…. Read More

UChicago Polsky Center Director E.J. Reedy: Still Time to Complete 2017 Americas Alternative Finance Industry Survey

“Having trusted, independent research is critical to cutting through some of the noise from a fast-changing space like alternative finance…We cut across to give a big picture view which isn’t typically available in other research.” It’s official, alternative finance platforms have been granted an extension… Read More

Absolutely Vital: Improving Entrepreneurs Access to Capital

Entrepreneurship and the creation of small business is vital to the economic growth of the country and the welfare of the nation. This is a simple, indisputable fact. Yet too frequently, small business and entrepreneurs get pushed to the side as policymakers and regulators focus… Read More

CEO of BondMason Cautions on Innovative Finance ISAs Questioning the FCA Approval Process

The Innovative Finance ISA or IFISA has been heralded by many in the P2P lending sector as a boon for the industry. Investors now have the ability to participate in P2P loans while benefiting from the tax deferred nature of ISAs. Yet the Financial Conduct… Read More

Peer to Peer Platforms Put on Notice: FCA Sends Out Dear CEO Letter to Online Lenders

This morning every P2P platform received a Dear CEO letter from the FCA, stating that platforms should not facilitate loans to a party who lends those monies onwards, unless that party is authorised for accepting deposits.  The issue here is really with the underlying lenders… Read More

Here is the Most Recent Executive Order from President Trump Addressing Regulatory Reform

President Donald Trump has been flexing the power of his office by enacting multiple Executive Orders (EO). The most recent from the Trump administration is, once again, addressing regulatory reform.  Trump has signed two other EOs tackling regulations that may impact the financial services sector…. Read More

China: WeiyangX Fintech Review

Hong Kong Securities & Futures Commission Joins R3 Blockchain Consortium The Hong Kong Securities and Futures Commission (SFC) announced it had joined the R3 blockchain consortium. Through this partnership, SFC will test applications of blockchain on record and settlement of securities and futures trading with the… Read More

We Need a Regulatory Framework for Cross-Border Crowdfunding Offerings

  Sara Hanks is well known in the alternative finance/crowdfunding space. Hanks is CEO and founder of CrowdCheck –  a due diligence, disclosure and compliance services for online capital formation. She is a Board member of CFIRA and is the current Chair of the SEC’s… Read More