SEC – Page 3 – FinTech and Blockchain Law Watch

A New Cyber Regulator on the Beat: The CFPB Issues its First Cybersecurity Order and Fine

Mar 09 2016

On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) instituted its first data security enforcement action, in the form of a consent order against online payment platform Dwolla, Inc.

The CFPB joins several other regulators that have recently issued statements or instituted enforcement actions in this space, including the Securities and Exchange Commission (“SEC”), Commodities Futures Trading Commission (“CFTC”), the Financial Industry Regulatory Authority (“FINRA”), the National Futures Association (“NFA”), the Department of Justice (“DOJ”), state attorneys general, and the Federal Trade Commission (“FTC”), which has been active in this area for several years.

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Blockchain not Bitcoin Becomes Industry Focus

Dec 16 2015

By Jim Bulling and Michelle Chasser

Blockchain, the public decentralised ledger technology behind Bitcoin, is gaining attention from a much wider audience within the financial services industry in terms of the potential application to securities clearing and settlements, payment processing and loan transactions.

Robo Advice Regulation Movement in Three Jurisdictions

Dec 15 2015

by Jim Bulling and Michelle Chasser

After increasing concerns that robo-advisers may not fit neatly into existing regulations, Australian, United States and United Kingdom regulators have all indicated in the last few months that they will be looking at the appropriateness of current regulations for the increasingly fast growing industry of automated financial advice.

U.S. and Australian Rules on Crowdfunding

Dec 14 2015

By Jim Bulling and Michelle Chasser

The past few months have seen considerable movement on the regulation of crowd-sourced equity funding on both sides of the Pacific. In the U.S., the SEC has adopted rules which allow companies to crowdfund through a registered portal while in Australia, the Australian Government has introduced a bill into Parliament which significantly enhances the viability and attractiveness of crowdfunding.

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