The emerging risks in the financial services market and the inception of the Regulation of Payment Services and Payment Initiation Law prompted the Capital Market, Insurance and Savings Authority (CMISA) to amend a series of...more
The UK Takeover Panel (the Panel) has published a new framework for private sale processes. If you are a private equity investor considering potential P2P acquisitions after receiving initial soundings from management teams,...more
Colombia’s National Infrastructure Agency (Agencia Nacional de Infraestructura or ANI) launched the public call for the invitation of third parties interested in the project whose purpose is the financing, preparation of...more
Last year, we blogged that Zelle was considering possible solutions for P2P customers on the Zelle Network who were the victims of scams. In an August 30, 2023 press release, Zelle announced that it was initiating new safety...more
The Consumer Financial Protection Bureau (CFPB) has proposed a rule to define a market for general-use digital consumer payment applications. Larger participants in this market would be subject to CFPB supervision and...more
Geo-political turmoil, economic headwinds and increased regulatory scrutiny has led to market volatility and unearthed significant value opportunities in the public markets....more
A public-to-private transaction ("P2P") is one in which a publicly listed company is acquired and taken into private ownership. Because they involve changes in ownership of public companies, P2Ps are subject to various...more
This note summarizes the federal regulator panels at ETA's annual FinTech Policy Forum, which was hosted by Venable in our Washington, DC office. We provide key takeaways from the discussions with (a) CFPB Director...more
The provision of leveraged financing to help fund the acquisition of listed companies into sponsor-backed private ownership (“P2Ps”) is a well-trodden path....more
Dem Senators Urge CFPB Focus on P2P Payment Platforms - A group of Democratic U.S. senators sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to take a harder look at peer-to-peer (P2P)...more
In this update, we consider key statistics, trends, developments and highlights regarding U.K. public M&A transactions governed by the U.K. City Code on Takeovers and Mergers that were announced during the second half (H2) of...more
Private equity-backed takeovers of listed companies in Western Europe have enjoyed several strong years, with deal value rising year on year from 2013 to reach a total of US$38.8 billion in 2019. Volume followed a similar...more
Turo is an Airbnb service for cars. Technically, it is a peer-to-peer car rental marketplace. It does not control the terms of the car rental. But it does bring owners and renters together....more
The Federal Communications Commission (FCC) recently issued a Declaratory Ruling clarifying the definition of an autodialer. Exactly what constitutes an autodialer under the TCPA has been a burgeoning topic in consumer...more
On June 25, 2020, the Federal Communications Commission (FCC) granted the P2P Alliance’s 2018 petition, squarely holding that “if a calling platform is not capable of originating a call or sending a text without a person...more
The FCC’s proceedings regarding the definition of the term “automatic telephone dialing system” have been pending since May of 2018 when, shortly after the D.C. Circuit’s opinion in ACA International v. FCC, the Commission...more
In sede di risposta all'Interpello n. 169 del 9 giugno 2020, l'Agenzia delle Entrate ha commentato il regime fiscale applicabile ai proventi derivanti da prestiti erogati per il tramite delle c.d. piattaforme di Peer to Peer...more
The U.S. Securities and Exchange Commission’s Strategic Hub for Innovation and Financial Technology (FinHub) has announced the launch of virtual peer-to-peer meet-ups (P2Ps)....more
Paxos Settlement Service announced February 20, 2020 that it has commenced P2P settlement of US listed equity trades over a private, permissioned blockchain with Credit Suisse and Instinet (a Nomura Bank subsidiary). Paxos...more
HEADLINES - In 2019, European take-private deals backed by private equity reached €34.5 billion over 31 deals - This is 14 per cent higher than 2018 and more than five times the total deal value seen just five years...more
After the extension of the March 29 Brexit deadline to October, Western Europe's private equity market staged a frenzied comeback in Q2. Deal volume fell from 510 to 399 deals at the same time that value surged by 88%...more
The European Banking Authority has published a report on the impact of financial technology on the business models of payment and electronic money institutions. The report aims to provide an overview of the current FinTech...more
The Situation: The Financial Crimes Enforcement Network ("FinCEN") released interpretive guidance concerning the application of the Bank Secrecy Act ("BSA") and the anti-money laundering ("AML") regulations to certain...more
Although acquisition activity in the European leveraged finance market has been on an upward trajectory since 2012, 2018 saw a substantial increase in buyout activity, which reached €57.6 billion in total, marking a return to...more
• The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce's Bureau of Industry and Securities (BIS) announced changes to the Cuban Assets Control Regulations (CACR)...more