News Briefing - Crowdfunding, SME And Alternative Finance

Abstract representation of the stock exchange: bulls, bears and numbers on screens

1.UK – P2P

 

P2P Finance News on the latest compliance moves from the FCA.

“AS IF peer-to-peer lenders didn’t have enough regulations to grapple with, the Financial Conduct Authority (FCA) on Friday announced its final rules for the extension of the Senior Managers and Certification Regime (SMCR).

These regulations will apply to all FCA-regulated firms from December, therefore including most P2P lenders, aiming to increase individual accountability of senior staff in financial services for any regulatory failings.

This could mean a compliance headache for some firms, which may have to change their processes to ensure they are operating in line with the new rules.” 

2. UK – P2P

 

The Telegraph characterises the P2P sector as a “bubble” and then proceeds to ask questions based on this a priori  judgement. Lendy fallout.

3. UK – AltFi

 

The Times looks at the powers of enquiry for those appointed to investigate the LCF affair.


4. UK – FinTech

 

The FinTech Times reports a potential shift in the way IPOs are done.

 

“Following participation in the FCA’s Sandbox initiative in 2018/2019,  SquareBook has received regulatory authorisation under Article 25 (2) of the Regulated Activities Order to ‘make arrangements with a view to transactions in investments’.

The FCA approval enables SquareBook to provide innovative new services in the Initial Public Offering (IPO) process to benefit firms looking to go public. SquareBook is specifically designed to remove the conflicts of interest inherent in the current book building process – conflicts which affect decisions about who receives allocations of shares and which can also distort the pricing of shares.”

5. US – FinTech

 

Securities.io reports:

 

“Private securities marketplace StartEngine received its Broker-Dealer approval this month. The firm seeks to expand its capabilities in the tokenized security sector. Now, StartEngine can provide services to all 50 states via its fully regulated platform.”

6. International – AltFi

 

Alteria Capital has a close in India.

7. International – FinTech

Crowdfund insider reports:

“The global Fintech build-out continues as investment continues at an accelerating pace and M&A is on track for all time highs.

According to the quarterly Fintech report from FT Partners, Q2 2019 Fintech financing hit $10.9 billion – the second best quarter ever. M&As for the first 6 months of 2019 has already topped the entire year of 2018 at $148.3 billion. In 2018, Fintech M&A came in at$127.8 billion for the year.”