In line with its recognition of the rapid expansion of and new products within the fintech sphere, the Monetary Authority of Singapore (MAS) issued a consultation paper on 7 June 2017 on the provision of digital advisory services (ie advice on investment products using automated, algorithm-based tools, also known as “robo-advisory services”). The consultation closed on 7 July 2017.
Companies specialising in internet and new technologies (so-called Fintechs) continue to play a key role in the French economy (for example in developing credit activities, targeting in particular the financing of small and medium-sized enterprises (SMEs) through lending platforms and crowd funding).
Thinking two moves ahead – how to get the best out of a fintech fundraising. Rich Woods and Emily Naylor from the fintech team at Herbert Smith Freehills provide some tips on planning a successful fundraise. Continue reading
Bank of England launches fintech community and FCA publishes discussion paper on distributed ledger technology
In March 2017, the Bank of England FinTech Accelerator launched a new fintech community. The new community has three main objectives:
- to share developments, trends and insights to facilitate learning within the Bank and across the sector;
- to ensure the Bank is engaging with a range of fintech firms; and
- to increase networking across fintech-related organisations.
The Digital Economy Act (the “Act“) finally received Royal Assent on 27 April 2017 and the final text has recently been published. First introduced in the House of Commons in July 2016, it has been the subject of much scrutiny and debate by both Houses of Parliament. With the General Election looming, the legislation was passed in a final sweep as part of the so-called “wash up” period before the dissolution of Parliament.
As the surge of Fintech continues to gather speed, authorities around the world are watching with keen interest to see how fintech can change the competitive landscape across various sectors and markets.
Mark Jephcott and Adelaide Luke from the competition team at Herbert Smith Freehills discuss some of the recent competition law developments relating to the fintech sector and explore some potential competition issues and concerns that may arise in the near future. Continue reading
An organisation’s confidential information and the personal data of their customer base is a valuable commodity. Combine this with an increased reliance on doing business in a digital world and the regulatory scrutiny surrounding cyber breaches, organisations big and small need to tackle the cyber risk proactively within a broader context of crisis prevention and management.