Rumors are circulating that the China Banking Regulatory Commission (CBRC) has drafted rules for the peer-to-peer lending industry and is currently circulating them among sector’s experts to receive feedback and comments.
The Financial Conduct Authority has published a guide on how finance companies should promote their services through social media. In fact with the growth and establishment of investment companies 2.0, which manage their operations mainly through online portals, social media have become a powerful and fundamental media to attract new investors and clients. The FCA therefore deemed that more detailed guidance was necessary to guarantee investors’ protection.
Virginia’s lawmakers have recently approved a legislation that will allow local businesses to raise equity finance via online investing portals. The bill, which received bipartisan support, does not differ much from what has been proposed in other US states.
Mobile World Congress, MWC, took again place in Barcelona on the first week of March. It’s an annual event where basically all relevant mobile and connectivity professionals come to see latest trends, products and meet one other. Payments and finance services have become more important in the mobile industry. Crowd Valley participated at the event in Barcelona.
One of the main tasks of the European Banking Authority (EBA) is to monitor new and existing financial activities, adopt guidelines and recommendations. The EBA also promotes the safety and soundness of markets in regulatory practice. Peer to peer lending has been recently identified by the EBA as an innovation in the financial sector and therefore worth studying and understanding. The Banking Authority released at the end of February results of such study in an Opinion Letter addressed to the European Commission, the European Parliament and the European Council.
The European Commission has recently launched its landmark project to unlock funding for Europe’s businesses and to boost growth in the EU’s 28 Member States with the creation of a true single market for capital, known as “Capital Markets Union” (CMU). With this initiative, the EC aims to break down the barriers that are blocking cross-border investments in the EU and preventing businesses from getting access to finance.
Venture funding for start-ups in Canada has dropped by 80% from the glory days in 2000 according to the Canadian National Crowdfunding Association. As a result, it has become more difficult for SMEs to raise capital. However, for the summer of 2015, Canada can expect crowdinvesting rules to be implemented, making the market more efficient.
In July 2014 a crowdinvesting bill (named the North Carolina Jobs Act) was given to the North Carolina General Assembly for approval. Unfortunately the bill was caught up in end-of-session political debate and eventually defeated.
In 2015, a further General Assembly session has been scheduled to revisit the Jobs Act along with a further proposed crowdfunding bills competing for North Carolina’s government approval. The first bill is titled North Carolina Jobs Act, while the second is called North Carolina Intrastate Private Capital Act which has been revered as more liberal and less restrictive.
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