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Research Disclosure Regulation

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Compliance Regulation
A look into New York Disclosure Regulation 
A look into New York Disclosure Regulation 

Revenue-Based Financing Disclosure Guides

By State

California Disclosure Guide

California implemented a new disclosure law on December 9th, 2022. It is requiring lenders and finance companies to provide specific information for certain commercial transactions. Such as small business loans and merchant cash advances. The law’s regulations detail the content of these disclosures, covering all commercial loan and cash advance transactions, and requiring the disclosure of specific information on all terms.

Virginia Disclosure Guide

Virginia has become the second state to introduce a registration regime for MCA providers. This new law requires MCA providers to register with the Virginia State Corporation Commission by November 1, 2022, and annually thereafter. The law also extends the registration requirement to “sales-based financing brokers.” Providers and brokers must also obtain authority to transact business in Virginia. 

Utah Disclosure Guide

Utah signed SB183 into law, which requires commercial financing providers to register formally with the State and provide standardized disclosures for their transactions. Starting January 1, 2023, these providers must obtain approval from the State to conduct business with Utah customers. The law mandates specific disclosures to be included in contracts. 

Revenue-Based Financing Regulation: State Disclosure FAQ

California Disclosure: What is required of ISOs & Lenders?

California implemented a new disclosure law on December 9th, 2022. It is requiring lenders and finance companies to provide specific information for certain commercial transactions. Such as small business loans and merchant cash advances. The law’s regulations detail the content of these disclosures, covering all commercial loan and cash advance transactions, and requiring the disclosure of specific information on all terms. Notably, California is the first state to mandate nonbank lenders to disclose the annual percentage rate businesses pay when borrowing $500,000 or less. Additionally, funders must obtain the borrower’s signature on the specific commercial financing offer before carrying out any documents.  

Virginia Disclosure: What is Required of ISOs & Lenders?

Virginia has become the second state to introduce a registration regime for MCA providers. This new law requires MCA providers to register with the Virginia State Corporation Commission by November 1, 2022, and annually thereafter. The law also extends the registration requirement to “sales-based financing brokers.” Providers and brokers must also obtain authority to transact business in Virginia. 

Utah Disclosure: What is Required of ISOs & Lenders?

Utah signed SB183 into law, which requires commercial financing providers to register formally with the State and provide standardized disclosures for their transactions. Starting January 1, 2023, these providers must obtain approval from the State to conduct business with Utah customers.

New York Disclosure: What is the latest?
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