Tagged: regulations

May 25, 2016 @ 4:35 pm By JD Alois  |  

“Should the Commission consider doing away with the notion of a so-called “accredited investor” altogether?” The above question is posed not by this digital publication but by a sitting SEC Commissioner, Michael S. Piwowar. The Commissioner was speaking at the recent gathering of the Advisory… Read More

May 25, 2016 @ 12:23 pm By Anthony Zeoli  |  

With the Federal Title III rules effective, there is certainly a lot of excitement surrounding national level “retail” crowdfunding to non-accredited investors. That’s obviously great news for the industry, but it’s important to remember that the majority of the states currently have some form of “intrastate”… Read More

May 17, 2016 @ 9:24 am By Amy Wan  |  

  Monday, May 16, 2016 is the first day that ordinary people—not just the super rich—will be able to invest in the next Uber or Snapchat. That’s because Title III of the JOBS Act, otherwise known as Regulation Crowdfunding or Reg CF, legalizes retail investment… Read More

May 16, 2016 @ 12:30 pm By Victoria Silchenko  |  

  “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” ― R. Buckminster They say, if Monday had a face, we all would like to punch it. But surely not today, Monday, May 16th, 2016, the day… Read More

May 16, 2016 @ 10:13 am By Erin Hobey  |  

As Chinese authorities continue their hunt for unregulated online lending and investment firms, more fraudulent fintech platforms are bound to be nabbed for unseemly and illegal behavior.  Today Bloomberg News reported the latest Ponzi scheme that separated 39.9 billion yuan ($6.1 billion) from 25,000 investors. Crowdfund… Read More

May 15, 2016 @ 2:51 pm By JD Alois  |  

Billionaire shark and outspoken entrepreneur Mark Cuban is considering using Title IV of the JOBS Act. He sees the updated securities exemption as a huge opportunity.  Currently, most of the Mark Cuban media coverage has focused on him taking up the banner of the #nevertrump… Read More

May 15, 2016 @ 9:23 am By Barry James  |  

In August 2014 Chancellor George Osborne set his stall out clearly stating the UK government’s intention to make London the FinTech capital of the world – and so maintain its position as, arguably, the world’s most important financial center in the years to come. It’s… Read More

May 11, 2016 @ 12:03 pm By JD Alois  |  

The SEC Advisory Committee on Small and Emerging Companies (ACSEC) has announced its next meeting scheduled to take place on Wednesday, May 18th at SEC headquarters. According to information provided by the SEC, ACSEC will review and discuss the very important subject regarding the definition… Read More

May 11, 2016 @ 10:37 am By JD Alois  |  

  China is the largest market for alternative finance in the world. According to the Cambridge Centre for Alternative Finance (CCAF), China delivered over $100 billion in alternative finance, including peer to peer lending and crowdfunding, in 2015.  This was more than a 3X jump… Read More

May 9, 2016 @ 1:50 pm By JD Alois  |  

The Financial Conduct Authority (FCA) is accepting applications now for its newly minted regulatory Sandbox.  Applicants have until July 8th to sign up for a chance to be part of a regulatory “safe space” to experiment and challenge existing financial norms. Christopher Woolard, FCA Directory… Read More

May 4, 2016 @ 12:09 pm By JD Alois  |  

Last month the US Department of Treasury, Division of Financial Crimes and Enforcement Network (FinCEN), announced a proposed rule change that will impact Reg CF crowdfunding portals. Now the concept of a crowdfunding portal is a new approach that was legalized under the JOBS Act… Read More

May 3, 2016 @ 4:21 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has adopted amendments to implement the JOBS Act and FAST Act Changes for Exchange Act Registration requirements. These amendments udpate rules regarding thresholds of registration and suspension of reporting under Section 12(g) of the 34 Act. These updates implement provisions… Read More

May 2, 2016 @ 8:55 am By JD Alois  |  

Embedded below is the consultation paper crafted by the Reserve Bank of India (RBI) in anticipation of creating a regulatory regime for peer to peer lending.  The document sets out to review the various legal frameworks in place around the world for peer to peer… Read More

April 30, 2016 @ 11:39 am By JD Alois  |  

This past week the  Comisión Nacional Bancaria y de Valores (CNBV) published their 7th National Financial Inclusion Report  (Reporte Nacional de Inclusión Financiera). The document (embedded below) spent a good amount of time defining and addressing the various forms of investment crowdfunding. The document was published in advance of… Read More

April 27, 2016 @ 1:46 pm By Erin Hobey  |  

The European Union has put the brakes on regulating blockchain (the technology that underpins bitcoin); an EU parliamentary committee agreed on Tuesday in the latest example of a “softly-softly” approach by authorities towards financial services, according to the release. “We don’t want pre-emptive regulation, but we do… Read More

April 26, 2016 @ 11:38 am By Erin Hobey  |  

According to Reserve Bank of India Deputy Governor R Gandhi, approval of new types of NBFCs (non-banking finance companies) will continue.  Detailed information has not yet been released from the bank, but Gandhi commented while inaugurating the ASSOCHAM summit discussing NBFCs: The Changing Landscape’ reported Mumbai’s Deccan Herald:… Read More

April 10, 2016 @ 2:59 pm By JD Alois  |  

In the first bi-monthly Monetary Policy Statement, 2016-17 Dr. Raghuram G. Rajan,  Governor of the Reserve Bank of India, stated that a conceptual document will be posted on their website by the end of the month.  According to the statement from last week; Peer to Peer… Read More

April 6, 2016 @ 7:43 pm By JD Alois  |  

Last week Crowdfund Insider reported that the Financial Crimes Enforcement Network (FinCEN), an arm of the Department of Treasury, had published a proposed rule change that will impact the nascent investment crowdfunding industry. The proposed change will require funding portals to adhere to the Bank Secrecy… Read More

April 5, 2016 @ 11:35 am By Jodi Avergun and Colleen Kukowski  |  

  “Silicon Valley is coming.  There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking.” This warning came not from a pundit or Silicon Valley lobbyist, but from Jamie Dimon, the Chairman and Chief Executive Officer… Read More

April 5, 2016 @ 10:13 am By JD Alois  |  

The Financial Conduct Authority (FCA), UK’s securities regulator, has published its business plan for the coming year. The FCA is in a period of transition as interim CEO Tracey McDermott, will be transitioning out as her replacement Andrew Bailey takes the helm of the agency… Read More