Tagged: regulations

July 17, 2015 @ 9:45 am By JD Alois  |  

The two leading equity crowdfunding associations, CFIRA and CFPA, came together to present a primer on the two active exemptions under the JOBS Act: Title II and Title IV. Title II, or accredited crowdfunding, has been actionable since the fall of 2013.  Title IV or… Read More

July 17, 2015 @ 7:59 am By JD Alois  |  

The UK Government has published a consultation paper on the deduction of income tax from interest on peer to peer lending. Closing comments are expected by September 18, 2015. The query tackles the issue of who should deduct and pay taxes. The challenge is not… Read More

July 16, 2015 @ 5:21 pm By JD Alois  |  

The Treasury Department has published an RFI on the operating environment surrounding Marketplace Lending. Previously labeled “Peer-to-Peer lending”, as the industry has grown a more diverse ecosystem has evolved. Today much of the funding is from institutions and a lesser portion is coming from smaller investors. The RFI… Read More

July 14, 2015 @ 8:47 am By Anthony Zeoli  |  

  What started as an action against a single company in late June has evolved into a probe of an entire industry. As reported by the Wall Street Journal late last week, the Securities and Exchange Commission (SEC) has launched a new probe spurred by… Read More

July 13, 2015 @ 2:00 am By Geoff Miller, CEO, GLI Finance  |  

The Emergency Budget This week saw the first Budget in the UK since the Conservative Party achieved a surprise win in the General Election in May. As the previous coalition government had already made promising steps towards the implementation of legislation which will improve access… Read More

July 9, 2015 @ 2:13 pm By JD Alois  |  

As part of the UK government’s budget policy, Chancellor of the Exchequer George Osborne affirmed that soon (April 2016) ISAs will allow for peer to peer lending assets to be part of a savers portfolio.  Osborne also stated the government will consider allowing equity crowdfunded… Read More

July 8, 2015 @ 2:50 pm By JD Alois  |  

The SEC Advisory Committee on Small and Emerging Companies (ACSEC) has scheduled a call for July 15th at 1PM ET to discuss the issue of “finders”.  This references the regulatory treatment of individuals who connect investors with companies seeking capital. The rules regarding finders remain… Read More

July 8, 2015 @ 2:38 pm By JD Alois  |  

The Securities and Exchange Commission only recently finalized rules on Title IV of the JOBS Act, commonly referred to as Regulation A+.  While old Regulation A has been around for quite some time, few utilized the exemption as it was encumbered with costly, and time… Read More

July 8, 2015 @ 1:52 pm By JD Alois  |  

The Korean National Assembly has passed a set of laws to boost economic growth and incorporated in the new legislation was an act that legalizes crowdfunding.  According to a report by G3 Partners based in Seoul, prior to these new rules entrepreneurs were limited to… Read More

July 2, 2015 @ 3:17 pm By JD Alois  |  

The Financial Conduct Authority (FCA), has been tasked with a mission to change and adapt to present day financial market realities.  Charged with the very important role of investor protection, and market efficiency, the FCA also maintains a mission to encourage competition.  It is this… Read More

July 1, 2015 @ 11:06 pm By JD Alois  |  

Malaysia has been at the forefront of countries in Asia advocating on behalf of capital access and innovative finance.  Largely championed by the Securities Commission, Malaysia now becomes the first country in the Asean region to have a defined regulatory environment to facilitate investment crowdfunding…. Read More

July 1, 2015 @ 12:14 pm By Anthony Zeoli  |  

  Last week the U.S. Securities and Exchange Commission (SEC) issued  a Cease and Desist Order (the “Order” embedded below) against two related companies for acting as unregistered broker-dealers in connection with the sale of securities under the “EB-5” Investor Program (also sometimes referred to… Read More

June 24, 2015 @ 3:02 pm By Samuel Guzik  |  

  On June 23, 2015, the Staff of the Securities and Exchange Commission provided some public guidance on certain issues arising under the new Regulation A+ Final Rules. In a new section of the SEC’s Compliance and Disclosure and Interpretations (C&DI’s),  a Q and A… Read More

June 12, 2015 @ 9:59 am By JD Alois  |  

OTC Markets has published proposed new rules and standards for companies seeking to use newly adopted “Regulation A+,” or Title IV of the JOBS Act.  The objective is to have companies using this new exemption  to list their securities on OTCQX Best or OTCQB Venture… Read More

June 10, 2015 @ 9:36 pm By JD Alois  |  

In a little over a week Title IV of the JOBS Act, commonly called Reg A+, will become actionable.  We are already hearing chatter about companies planning on using the new exemption. Whenever a new chapter is written in the Securities Law Book there is… Read More

June 9, 2015 @ 3:01 am By Anthony Zeoli  |  

Early last week the Financial Industry Regulatory Authority (FINRA) rolled out a multi-million dollar ad campaign promoting its online research tool called “BrokerCheck.” BrokerCheck is free online database intended to provide the investing public with an east way to research brokers and investment advisers before… Read More

June 7, 2015 @ 3:53 pm By JD Alois  |  

The current definition of an accredited investor is something that has been in use for decades.  Basically the rule defines who may invest in certain private placement securities offers. In general you need to be earning over $200,000 a year ($300,000 if married) or alternatively have… Read More

June 4, 2015 @ 11:53 am By Georgia Quinn  |  

A CATO Institute event on the status of capital markets in the US provided a bright spot to an otherwise bleak and rainy day in New York City. Amidst the libertarian rhetoric and literature, two speakers stood out with certain observations and proposed remedies to… Read More

June 4, 2015 @ 7:37 am By JD Alois  |  

SEC Commissioner Daniel Gallagher has completed the final update of his “crazy quilt” chart of regulations that smother financial services firms.  It is a wonder that anyone working in the financial sector does anything else but review and comply with mandatory rules.  And these are… Read More

June 3, 2015 @ 4:41 pm By JD Alois  |  

In a highly regulated industry, such as finance, there will never be a perfect set of rules. The diversity of opinion and perspective by nature engenders a constant debate between what is right – and what is wrong.  The internet finance industry has evolved quite… Read More