News & Analysis as of

Crowdfunding Financial Services Industry

Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including,... more +
Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including, but not limited to, supporting charitable organizations, disaster relief, product development, artistic projects, and financing start-up companies. The passage of the JOBS Act of 2012 sought to broaden the use of crowdfunding in developing private capital for start-up companies by relaxing certain SEC investor registration requirements. less -
Walkers

Guernsey's consumer lending, financial firm business, virtual assets and financial platforms licensing regimes

Walkers on

From 1 July 2023, the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL") came into full effect, replacing and expanding upon the previous now repealed regime under the Registration of Non-Regulated...more

Hogan Lovells

Bank of Italy consults on control and administration system guidelines for crowdfunding service providers

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On 17 May, the Bank of Italy published a public consultation on the supervisory guidelines for  crowdfunding service providers to implement EU Regulation 2020/1503 on European crowdfunding service providers (“CSP”) for...more

Stikeman Elliott LLP

Fintech 2023

Stikeman Elliott LLP on

Canadian fintech industries, particularly digital payments, digital trading, robo-advising and open banking, continued to experience significant growth until 2022. The pace of innovation had been accelerated by expansive...more

Bennett Jones LLP

Anti-Money Laundering Rules Expanded to Include Payment Service Providers and Crowdfunding Platforms

Bennett Jones LLP on

Payment service providers and crowdfunding entities that were not previously subject to anti-money-laundering (AML) and anti-terrorist financing (ATF) legislation in Canada should be aware of changes that came into force...more

Davies Ward Phillips & Vineberg LLP

Filling the Gap: Scope of Canadian Anti-Money Laundering Laws Expanded

The Canadian federal government has fulfilled its promise to expand Canada’s anti-money laundering (AML) regime to cover crowdfunding platforms and certain payment service providers (PSPs) that previously operated outside the...more

Faegre Drinker Biddle & Reath LLP

Exam Time: FINRA Releases its 2022 Report on its Examination and Risk Monitoring Program

A common phrase to abide by in the New Year is “out with the old, in with the new.” FINRA’s 2022 Report on its Examination and Risk Monitoring Program (the “Report”), however, contains a combination of old and new priorities....more

Stikeman Elliott LLP

Ottawa Issues Emergencies Act Proclamation, Order and Regulations, Citing Blockades at Various Locations in Canada

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Executive Summary - The steps that the Canadian government has recently taken under the Emergencies Act in relation to blockades that are stated to be occurring in places throughout Canada pose significant compliance...more

Hogan Lovells

Banking and finance regulatory news, March 2021

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Resolvability Assessment Framework: BoE Dear CEO letter The Bank of England (BoE) has published a letter sent by Dave Ramsden, BoE Deputy Governor for Markets and Banking, to the CEOs of the eight UK banks in the scope of the...more

White & Case LLP

Secondary Fintech regulations related to e-money Institutions (IFPEs)

White & Case LLP on

On January 28, 2021, the Mexican Central Bank and the National Banking and Securities Commission ("CNBV"), published in the Federal Official Gazette the "General regulations applicable to e-money Institutions pursuant to...more

White & Case LLP

Notices to the general public issued by Mexican National Banking and Securities Commission

White & Case LLP on

On December 4, 2020, the Mexican National Banking and Securities Commission (the “CNBV”) issued through its website two notices informing the general public of the following: I. Notice to the general public regarding...more

Hogan Lovells

Securities and markets regulatory news, October 2020 # 2

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MiFIR: FCA statement on trade reporting and position limit obligations - The UK Financial Conduct Authority (FCA) has published a statement on trade reporting and position limit obligations under the Markets in Financial...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

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In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Representatives of the US’s biggest stock exchanges have questioned the SEC’s plan to change how markets work by altering the current “maker-taker” system and imposing new transparency and conflict-of-interest rules on...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - SEC Adopts Jobs Act Amendments - On April 5, the Securities and Exchange Commission ("SEC") announced that it has adopted amendments to increase the amount of money companies can...more

Hogan Lovells

FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies

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On Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This was the FTC’s third forum on...more

Stinson - Corporate & Securities Law Blog

A Window into Trump’s SEC?

Insights into an SEC composed of Trump appointees can be gleaned from Financial Services Committee Chairman Jeb Hensarling’s (R-TX) opening statements at a committee hearing on SEC oversight, with testimony by outgoing SEC...more

Morrison & Foerster LLP - JOBS Act

First Ever SEC Fintech Forum

On September 27th, 2016, the SEC announced it will host a public forum to discuss financial technology (Fintech) innovation in the financial services industry. The press release notes that the forum is designed to foster...more

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