Jacqui Hatfield and Melanie Shone have recently published an article in Finance Monthly, examining the performance of the FCA’s Project Innovate. The authors caution that “any new rules, specific to a particular technology, may quickly become obsolete as the pace
FinTech Update
Financial Services News for FinTech Companies and Lawyers
FinTech Update, published by Reed Smith LLP, focuses on legal developments and regulatory issues in the financial technology sector. The blog covers topics such as cryptocurrency regulation, securities law as applied to digital assets, initial coin offerings (ICOs), blockchain technology, fraud risk management in digital finance, and compliance with emerging financial regulations. It also addresses cross-border legal challenges, enforcement actions by regulatory bodies like the SEC, and the impact of technological innovation on banking and financial services. The content includes analysis of court decisions, regulatory guidelines, and industry best practices relevant to fintech companies and financial institutions.
Latest from FinTech Update - Page 10
Reed Smith & BPM Presents : Consumer Protection Regulation and FinTech
Starting of 2016 right, Reed Smith has partnered with accounting firm BPM to present “Consumer Protection Regulation : FinTech Friend or Foe?” We have a great Keynote Speaker, Panel, and Networking Event lined up to discuss regulatory interest in FinTech business…
Coopetition 101 : JP Morgan and OnDeck
JPMorgan Chase & Co. and OnDeck Capital Inc. announced a partnership to speed up the process of providing loans to some of JPMorgan’s 4 million small-business customers. The partnership joins JP Morgan’s client base and OnDeck’s technology to provide a better product…
“Human Intervention” a Question of Fact for Jury
A recent opinion from the Southern District of California suggests that now there is no bright-line rule regarding what qualifies as human intervention for purposes of determining whether an autodialer was used. In denying a motion for summary judgment filed…
The Night Before FinTech Christmas
In case you have some down time, we thought you’d enjoy this poem posted on CSTMR’s blog titled: “The Night Before Fintech Christmas“. Here’s a sampling of the first couple stanzas:
Twas the night before Christmas,
And money was flowing…
Banks and FinTech : More Than Meets the Eye
On December 16, 2015, the Office of the Comptroller of the Currency (OCC) issued its semiannual risk assessments for federally chartered financial institutions (PDF here). Relevant to FinTech, the OCC noted:
Banks are increasingly adopting innovative products, services, and processes…
What has the CFPB said about that?
As an early “holiday gift,” to help you more easily search for a particular piece of guidance from the CFPB, we’ve put together two CFPB guidance documents. The first is a compilation of all nine issues of the CFPB’s Supervisory…
CFPB Files Lawsuit Alleging Deceiving Consumers About the Cost of Short-Term Loans
The Consumer Financial Protection Bureau (CFPB) announced this week that it has filed an administrative lawsuit against defunct online lender Integrity Advance and its CEO for allegedly deceiving consumers about the cost of short-term loans.
Integrity Advance was a Delaware-based…
Democrats Push for Regulatory Oversight of Marketplace Lenders
As reported in Bloomberg, a group of Democratic Senators has issued a letter to Treasury Secretary Jack Lew and SBA Head Maria Contreras-Sweet asking for clarification on the regulatory oversight of marketplace lenders. The letter, from Sherrod Brown (D-Ohio), Jeanne…
Crowdfunding : trick or treat?
On Halloween eve, three years after authorization by the JOBS Act, the SEC finally adopted rules permitting small ventures and business startups to raise up to $1 million over a 12-month period by selling shares to the investing public through…