FinTech Law Watch

At the Crossroads of Law, Innovation and Commerce

 

1
Australian Government launches FinTech Advisory Committee
2
K&L Gates Partners to Speak on Marketplace Lending at ABA Spring Conference in Montreal
3
K&L Gates London Office to Host Breakfast Roundtable Forum on US Marketplace Loan Investments, March 10, 2016
4
Banks Partnering with Fintech Startups – Deutsche Bank, ANZ Bank
5
Investor Registration Website Launched Following China’s Ezubao Scam
6
K&L Gates Partners to Speak on Marketplace Lending at Alfi Europe Conference in London
7
Some Feedback on Crowdfunding Reforms in Australia
8
Tech-savvy Aussies Preference Digital Payments
9
FinTech Start-ups Shake up Banking Industry
10
Financial Innovation Now

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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Tech-savvy Aussies Preference Digital Payments

By Cameron Abbott and Meg Aitken

The number of Australian consumer using contactless payment mediums is on the rise. Statistics revealed in the World Payments Report 2015 ranks Australia behind only the United States, Finland and the Netherlands as the countries recording the highest number of non-cash payments per person.

NAB is the most recent big-four bank to respond to changing consumer behaviour in the market. This week, NAB launched a new payment solution that allows customers to ‘tap and pay’ on Android phones. NAB claims the new ‘NAB Pay’ facility is the first in Australia to utilise the Visa Token Service and enables customers to make contactless payments via the bank’s existing app without revealing their account details.

Read more about the new NAB Pay mobile payment service here.

Financial Innovation Now

By Jim Bulling and Michelle Chasser

Rival technology powerhouses Apple, Google, Amazon, Intuit and PayPal have joined forces to form an advocacy group known as Financial Innovation Now, focused on enabling technological change within the finance industry. The group will work with policy-makers and key stakeholders to promote policies and regulations that encourage greater innovation in the financial services sector as well as ensuring that policy-makers understand the advantages that technology can bring to the industry.

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