Tag: peer to peer

1
IOT Group to set up blockchain centre in the Australian energy sphere
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A guide to doing FinTech business in the U.S. and Germany
3
CFPB Takes Aim at Marketplace Lenders
4
Marketplace lending how-to from the Australian regulator
5
Certain Compliance Risks in Marketplace/Peer-to-Peer/Online Lending
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K&L Gates London Office to Host Breakfast Roundtable Forum on US Marketplace Loan Investments, March 10, 2016
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Investor Registration Website Launched Following China’s Ezubao Scam
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FinTech Start-ups Shake up Banking Industry
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Simpler Regulatory path for Australia’s Peer to Peer Lending Platforms?

IOT Group to set up blockchain centre in the Australian energy sphere

By Cameron Abbott and Sarah Goegan

Technology company IOT Group announced this week that it has signed an Australian first energy and blockchain deal. In the agreement with Hunter Energy, IOT Blockchain will build a blockchain centre at the Redbank coal-fired power station in the Hunter Valley, two hours north of Sydney.

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A guide to doing FinTech business in the U.S. and Germany

“Getting the Deal Through” is a publication that provides international expert analysis in key areas of law, practice and regulation for corporate counsel, cross-border legal practitioners, and company directors and officers.

The inaugural edition of Fintech serves as a resource to help fintech entrepreneurs and their advisers and investors around the world navigate the often complex key legal and regulatory issues on which we are most often asked to advise. Two of the chapters were authored by K&L Gates lawyers.

The Germany chapter is authored by Dr. Hilger von Livonius, Dr. Friederike Gräfin von Brühl and Dr. Thomas Nietsch.

The United States chapter is authored by Judith Rinearson, Robert Zinn, Anthony NolanC. Todd Gibson and Andrew Reibman.

To read this publication, click here.

CFPB Takes Aim at Marketplace Lenders

By David Christensen

Last Fall, in its 2015 Rulemaking Agenda, the Consumer Financial Protection Bureau (“CFPB”) signaled its intent to “to develop rules to define larger participants in markets for consumer installment loans.”[1]  Under the Dodd-Frank Act, the CFPB is authorized to issue “larger participant” rules to define entities in a particular market for consumer financial products or services.  The issuance of such rules opens the door for supervisory and examination authority over such entities.  Fast forward to Spring 2016, when the CFPB announced that it is accepting complaints from consumers regarding alleged problems with online marketplace loans, and it appears that the CFPB has marketplace lenders squarely in its sights.[2]

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Marketplace lending how-to from the Australian regulator

By Daniel Knight

The Australian Securities and Investments Commission (ASIC) has released guidance for marketplace lenders navigating Australia’s existing dual licensing regimes for credit and financial products.  While the guidance is helpful, it does not overcome the need for marketplace lenders, like other fintech innovators, to contort themselves into existing regulatory boxes.

ASIC’s Information Sheet 213 focuses on establishing a marketplace lending platform using Australia’s managed investment scheme regime, by far the most popular Australian structure where a trust is interposed between borrowers and lenders.  This regime was designed for pooled collective investment vehicles, such as traditional managed funds, and is not well adapted to pure peer-to-peer lending.  Individual regulatory relief is often needed to overcome these challenges – for example, to facilitate investor withdrawals – and the Information Sheet helpfully outlines the relief ASIC has previously given to industry players.

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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 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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Simpler Regulatory path for Australia’s Peer to Peer Lending Platforms?

By Jim Bulling and Daniel Knight

Like riding a bike through Sydney or getting to Melbourne airport, launching a peer to peer lending platform in Australia is possible but not as easy as it should be. The Financial System Inquiry recommended changes and the Government’s response seemed to agree, but we are yet to see what will be done to facilitate innovation in marketplace lending.

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