Tagged: finra

The SEC, FINRA, NASAA Issue Warning on AI Fraud

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have jointly issued a warning regarding the rise of investment frauds involving the use of artificial intelligence (AI) –… Read More

FINRA Updates on Crypto Asset Communications as Part of Crypto Sweep: Potential Violations at Whopping 70%

FINRA, the organization that regulates all of the broker-dealers in the United States, says a recent review of crypto communications indicates potential violations at a whopping 70% of the information reviewed. FINRA has not identified any firms that may be providing information that is in… Read More

FINRA Releases Regulatory Oversight Report, Highlighting Crypto and Other Key Findings

FINRA published its 2024 FINRA Annual Regulatory Oversight Report, formerly known as the Report on FINRA’s Examination and Risk Monitoring Program. The report provides member firms “with key insights and observations from recent activities of FINRA’s regulatory operations to use in strengthening their compliance programs.”… Read More

Galaxy Digital Compliance Officer Appointed to FINRA Fintech Committee

Galaxy Digital Holdings (TSX: GLXY) says its Chief Compliance Officer, Lagan Srivastava, has been appointed to the Financial Industry Regulatory Authority (FINRA) Fintech Committee. The committee, which consists of 15 individuals, includes an array of participants, including observers from the Securities and Exchange Commission (SEC) and… Read More

FINRA Launches New Section of Website to Cover Crypto Assets

FINRA (Financial Industry Regulatory Authority) has launched a new section of its website to cover its work on crypto or digital assets. FINRA is the entity that oversees all of the broker-dealers in the US. As there are over  624,000 brokers across the country, the… Read More

eToro Exec Joins FINRA Fintech Committee

Lule Demmissie, US CEO of eToro, has joined the FINRA Fintech Committee. FINRA is the entity that oversees broker-dealers across the US, holding incredible power over this important aspect of financial services. By joining the Fintech Committee, Demmissie will be able to interact and share… Read More

Reg CF: There Are Currently 88 FINRA Regulated Funding Portals

As CI has done from time to time, we have recently reviewed the number of FINRA-regulated Funding Portals – platforms offering crowdfunding services under the Reg CF (Regulation Crowdfunding) securities exemption – up to $5 million. Funding Portals were created by the JOBS Act of… Read More

What Did Stakeholders Tell FINRA it Should Do to Improve Access to Capital?

Earlier this month, CI reported on the Association of Online Investment Platforms (AOIP) – the group that advocates on behalf of platforms raising capital online – submitting recommendations to FINRA regarding a request for feedback on improving capital formation. FINRA [Financial Industry Regulatory Authority] is… Read More

Investment Crowdfunding: AOIP Asks FINRA to Update Reg A+ to Improve Capital Formation

The Association of Online Investment Platforms (AOIP) provides feedback on FINRA’s request for input on improving capital formation. This past May, FINRA announced a request for comment on how FINRA rules may impact capital formation. The goal was to look for ways to increase efficiency… Read More

Prometheum Comments on CCP Affiliation Question from House Financial Services Committee Republicans

Yesterday, Republicans on the House Financial Services Committee revealed a letter sent to both the Chair of the SEC, Gary Gensler, and the President of FINRA, Robert Cook. The letter was addressing the relationship with Prometheum, a broker-dealer that aims to provide digital asset services…. Read More

Digital Assets: Chair of House Financial Services Sends Letter to SEC, FINRA Questioning Prometheum Relationship, Says Investor Has Ties to CCP

The Chair of the House Financial Services Committee, Representative Patrick McHenry, along with other Committee Republicans, have sent a letter to the Chair of the SEC, Gary Gensler, as well as the FINRA President Robert Cook, questioning the relationship with Prometheum and the approval for… Read More

OTC Markets Approved by FINRA to Trade Digital Assets that are Securities

Earlier this week, during its earnings call, OTC Markets (OTC:OTCM) revealed that on May 5th, it had received FINRA approval to provide services for digital assets which are securities. In the May 9th earnings report, R. Cromwell Coulson, President and CEO of OTC Markets, stated:… Read More

Reg CF: Five New Funding Portals Added to the List Since Beginning of 2023

CI has once again reviewed the roster of FINRA-regulated funding portals to gauge the growth or decline of these platforms that provide online capital formation. Funding Portals were created under the JOBS Act of 2012 and typically list securities under Regulation Crowdfunding (Reg CF). This… Read More

North American Securities Administrators Association Posts Investor Alert Warning on Self Directed IRAs and Crypto, Risk of Fraud

The North American Securities Administrators Association (NASAA), along with the SEC Office of Investor Education and Advocacy, and the Financial Industry Regulatory Authority (FINRA), have published an Investor Alert cautioning individuals on Self Directed Individual Retirement Account (IRAs) that enable investors to select assets that may be… Read More

Reg CF: The FINRA Regulated Funding Portals of 2022

Once again, CI has reviewed the list of FINRA-regulated Funding Portals. These platforms may offer securities under Regulation Crowdfunding (Reg CF) to accredited and non-accredited investors. Funding Portals were created by the JOBS Act of 2012 specifically for online capital formation, but at the same… Read More

The Number of FINRA Regulated Funding Portals Continues to Inch Higher

The number of FINRA-regulated Funding Portals continues to increase. These are broker-light platforms that may issue securities under Regulation Crowdfunding (Reg CF), a new exemption created by the JOBS Act of 2012. The Funding Portal sector received a bit of a boost last year as… Read More

Wefunder Hit by $1.4 Million Fine, StartEngine Assessed $350,000 Penalty as FINRA Claims Funding Portals Failed to Comply with Rules

Two of the most successful investment crowdfunding platforms, Wefunder and StartEngine, have been hit with penalties by FINRA. According to a statement by FINRA, Wefunder has been assessed with a $1.4 million fine and StartEngine must pay $350,000 in regards to failing to comply with… Read More

Reg CF: The Number of Funding Portals Stabilizes as Industry Expects More Growth

Crowdfund Insider last reported on the growth of FINRA-regulated Funding Portals at the beginning of 2022. A Funding Portal is a new entity created by the JOBS Act of 2021 designed to issue securities under the Reg CF (Regulation Crowdfunding) – a securities exemption created… Read More

FINRA Regulated Funding Portals Hit 70, What’s Next for Reg CF in 2022

Periodically, CI takes a tally of the Reg CF (Regulation Crowdfunding) sector to capture a measure of both platforms and activity. The last time we reviewed FINRA regulated funding portals was mid-2021 and as you can understand things have changed since then. At that time,… Read More

Reg CF: The Number of FINRA Regulated Funding Portals Plateaus

  The number of FINRA regulated funding portals has plateaued in the past few months. Periodically Crowdfund Insider reviews the roster of funding portals, a new type of financial entity created by the JOBS Act of 2012. Under the Act, approved platforms may raise capital… Read More

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