Venable attorneys produce periodic alerts and newsletters covering a variety of topics and practice areas. For your convenience, we have assembled below a collection of the latest alerts and newsletters from July 2016.
FINRA targets firm culture, New York legislature makes major changes to campaign finance laws, and more in the July 2016 edition of Fund Forum
This issue of Venable's Fund Forum provides a discussion on firm culture, guidance to funds, managers, and owners on changes to New York's campaign finance laws, comments and feedback on the present state of investing in Brazil, and further updates on the 421-a property tax exemption to investors and lenders interested in the NYC real estate market.
SEC Proposes Expansion of "Smaller Reporting Company" Eligibility
Buried in the Fixing America's Surface Transportation Act of 2015 is a requirement that the Securities and Exchange Commission review and revise Regulation S-K to scale or reduce the reporting burden on smaller registrants. As part of this initiative, on June 27, 2016, the SEC issued proposed rules soliciting comment on an increase in the thresholds for qualifying as a "smaller reporting company." If adopted, the proposed expansion of smaller reporting company eligibility would substantially lessen the reporting burden for an estimated 780 additional registrants.
Is the Future of Fintech a Bank Charter?
The benefits in bank conversion are clear, but the path to getting approval from regulators that tend to distrust innovation is challenging.
Financial services firms are always looking for strategic steps to strengthen their prospects and expand their offerings. The most obvious one is to become a national bank. Joining the ranks of national banks has a number of advantages for a fintech company, but there are also serious challenges to consider.