Archive: February 2016

1
Certain Compliance Risks in Marketplace/Peer-to-Peer/Online Lending
2
K&L Gates to Sponsor ABS Vegas 2016 Conference
3
ASX looking to replace CHESS with blockchain
4
Australian Government launches FinTech Advisory Committee
5
K&L Gates Partners to Speak on Marketplace Lending at ABA Spring Conference in Montreal
6
K&L Gates London Office to Host Breakfast Roundtable Forum on US Marketplace Loan Investments, March 10, 2016
7
Banks Partnering with Fintech Startups – Deutsche Bank, ANZ Bank
8
Investor Registration Website Launched Following China’s Ezubao Scam
9
K&L Gates Partners to Speak on Marketplace Lending at Alfi Europe Conference in London
10
Some Feedback on Crowdfunding Reforms in Australia

Certain Compliance Risks in Marketplace/Peer-to-Peer/Online Lending

By Tony Nolan, Joseph Valenti, and Christopher Bell

The online marketplace lending industry has experienced substantial growth in the past few years.  Its share of the global lending market is predicted to continue its increase.  In the United States, regulators are starting to take notice.

The first major sign of interest came from the U.S. Treasury.  On July 16, 2015, it issued a Request For Information to better understand the impact of online marketplace lending on small businesses, consumers, and the broader economy.

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K&L Gates to Sponsor ABS Vegas 2016 Conference

By Tony Nolan

Once again K&L Gates will be sponsoring the IMN ABS Vegas 2016 conference, which will take place at the Aria Resort & Casino in Las Vegas Nevada from February 28 through March 2, 2016.

This is the first year that online lending will be an important focus of attention at ABS Vegas, in testament to the growth of an important new asset class.  This will permit K&L Gates to highlight our practice in the converging areas of Fintech, Marketplace Lending, Securitization and Structured Finance and Consumer Financial Services Regulation

Visit our exhibition booth and get cool stuff!

ASX looking to replace CHESS with blockchain

By Jim Bulling and Michelle Chasser

The Australian stock exchange ASX has announced that it has partnered with a US-based firm to develop distributed ledger technology, more commonly referred to as blockchain. The ASX is planning to develop the ledger technology for post-trade services such as clearing and settlement of the cash equities market. Unlike the bitcoin blockchain which operates as a public ledger, the ASX will use a private network which will only allow parties with permission from the ASX to participate.

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K&L Gates London Office to Host Breakfast Roundtable Forum on US Marketplace Loan Investments, March 10, 2016

By Tony Nolan

On March 10, 2016 at 8:30am the London office of K&L Gates will host a Breakfast Roundtable on the US Regulatory Landscape for Marketplace Lending.  The Roundtable will cover a range of topics that are relevant to entering into the US market, focusing particularly on ways to facilitate a broad distribution of investments.

New York partner Anthony Nolan and London partner Jacob Ghanty will lead a discussion of how US regulatory and compliance issues may affect UK lenders and investors that are considering entering the US online / P2P / marketplace lending market.

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Investor Registration Website Launched Following China’s Ezubao Scam

By Cameron Abbott and Meg Aitken

Chinese regulators launched a website on Saturday to aid authorities in their mission to investigate the gigantic Ezubao “Ponzi scheme” that allegedly stole money from more than 900,000 investors.

Ezubao, China’s largest peer-to-peer lender, was caught red handed fabricating the majority of its listed investment projects and using investor money to fund the extravagant lifestyle of the company’s executives earlier this month.

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Some Feedback on Crowdfunding Reforms in Australia

By Jim Bulling

International banking group Investec Australia has purchased a 20% stake in equity crowdfunding platform Equitise. Equitise, which is based in New Zealand, was founded in Australia in 2014, but has developed its business model in New Zealand as a result of slow development to crowdfunding regulation in Australia. The deal values the startup at close to AUD$10 million.

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