See Credit Details Below
Overview
Alternative finance continues to drive significant engagement with the investment community. But it also raises many more questions than answers about what the future holds for marketplace lending, cryptocurrency and crowdfunding, including:
- Will Regulation A+ mature into the capital-raising potential many predicted?
- Will ICOs displace traditional capital-raising?
- Will SPAC offerings continue to boom?
- What's the role of CFPB, OCC and other regulators? Will Marketplace Lending finally have a principal regulator or will it continue to have its heels nipped by a patchwork of state and federal rulemakers and the courts? And what is the proper role of governments -- state and federal -- and the courts more generally in keeping the industry honest?
Join us for this one-of-a-kind program to hear from the leading industry lawyers, dealmakers, and federal and state regulators on where we are now and where we may be headed.
What You Will Learn
- Get Updates from Washington and State Houses on Developments in Regulating Cryptocurrency, Crowdfunding and Alternative Finance
- Review the Impact of the JOBS Act Seven Years Later on Crowdfunding and Capital-Raising
- Learn How to Execute a Proper Regulation A+ and Crowdfunding Transaction
- Review Best Practices for Executing SPAC Offerings
- Discuss ICOs After the DAO Report - Why You and Your Clients Need to Be Careful
- Consider OCC Special Purpose Fintech Charters and Other Innovative Initiatives
- Find Out About Efforts to “Fix” or Contain the Madden Decision
- Discuss Fund Structures and Issues with Investing in Alternative Finance
Prerequisites: An interest in learning about current developments in the law of marketplace lending, cryptocurrency and crowdfunding.
Intended Audience: This program is designed for in-house attorneys and outside counsel, and other allied professionals advising on financing and technology developments affecting the financial investment industry.
Other Prerequisite: None
Advanced Prep: None
Topics
Program Expired
The full program is no longer available, but certain segment(s) of the program may still be available below.
Credit Details
Credit Details For All Jurisdictions For This Program
Jurisdiction | Status | Total | Credit Details |
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- Aug 5, 2019
9:00 AM EDT
Opening Remarks
Brian S. Korn
9:10 AM EDT
The JOBS Act Seven Years Out: Washington and State House Developments in Crowdfunding and Alternative Finance
- SEC rulemaking to refine crowdfunding and private placement procedures
- Advertised private placements – report from the trenches
- Possible legislative developments
- FINRA funding portal application and differences from broker-dealer applications
- Regulatory enforcement priorities
Joseph P. Borg, Sara Hanks, Jacqueline Wolff
10:10 AM EDT
Spotlight on Regulation A+: Seed Finance, Mini-IPOs, eREITS and Debt Offerings (Oh My!)
- Overview of Regulation A+
- Tier I – how tough is the state review?
- NASAA Coordinated Review
- State Blue Sky issues
- Straight to Listing or “Reg A for life”; Reg A IPO vs. Traditional IPO
- Debt offerings
- eREITs -- are they for everyone?
Faith L. Anderson, Nick Bhargava, Sara Hanks
11:10 AM EDT
11:25 AM EDT
Special Purpose Acquisition Companies and Closed-End Funds
- Best practices for executing SPAC offerings
- Back-end and exit transactions
- Closed end funds and other alternative permanent capital vehicles
Walter L. Draney, Douglas Ellenoff
12:10 PM EDT
Hot (Legal and Regulatory) Topics in Marketplace Lending
- Latest on Colorado and state attorneys general matters
- Madden v. Midland and “true lender” cases
- Bank partnerships vs. state licensing
- Banking regulations and the “front end”: the lender license, rate exportation and usury laws
- Role of CFPB, OCC, FDIC, Federal Reserve and other regulators: who’s in charge here?
- Fintech companies and bank charters: OCC special purpose fintech charters, industrial loan companies, and other bank charters
Arlen W. Gelbard, Michael Nonaka
1:10 PM EDT
2:15 PM EDT
Securitization and Secondary Markets For Marketplace Lending
- Securitization issues after Madden
- Asset models and loan-level disclosure; verification
- “Skin in the game” and impact on risk retention requirements; Will loosening risk retention come to MPL?
- Role of rating agencies
- Loan trading process: clearing and custody issues
- True Lender Doctrine
- OCC Fintech Initiative
Pete Loukas, Jerry Marlatt, Henry G. Morriello
3:00 PM EDT
Developments in Warehouse Facilities, Loan Purchase Facilities and Small Business Lending
- Issues in commercial lending, including licensing, custody and servicing
- Due diligence in commercial lending
- The personal guaranty- what’s it really worth and is it enforceable?
- Warehouse lines, forward flow agreements and other marketplace lending finance structures
- SPV issues and the true sale and non-consolidation opinions; Are they correct?
- Guaranties in platform lending: performance or bad actor?
Frank R. Borchert, III, Patrick D. Dolan, Lenny Giltman
3:45 PM EDT
4:00 PM EDT
Blockchain, Tokens and Cryptocurrencies: Latest developments
- What is blockchain? What are Bitcoin, Ethereum and Litecoin?
- Are tokens securities?
- Can any business really be tokenized?
- Is distributed ledger antithetical to responsible investing?
- Are private placements the answer?
- Regulation S offshore transactions to the rescue?
- Courting sanctions and/or disbarment by rigorously representing your client: is this a fair trade-off for challenging the SEC staff on the status of tokens as securities?
- Enforcement developments with Respect to Token and Cryptocurrency Exchanges?
Lee A. Schneider, Daphna Waxman, Nancy H. Wojtas