Tagged: finra

FINRA Issues Report on Blockchain & Implications for Securities Industry

Blockchain

FINRA has published a report (embedded below) on Blockchain or Distributed Ledger Technology (DLT) and its implications for the securities industry. The publication is entitled; “Distributed Ledger Technology: Implications of Blockchain for the Securities Industry.” FINRA, or the Financial Industry Regulatory Authority, is the self-regulatory organization… Read More

Five Key Take-Aways from FINRA’s Expulsion of Crowdfunding Portal UFP

Doom Ride Mortals Danger

FINRA recently completed a settlement expelling from FINRA membership UFP, LLC, a registered funding portal that operated under uFundingPortal.com.   The matter marks both early and decisive action by FINRA against a registered funding portal operating under Regulation Crowdfunding.  It establishes that FINRA takes seriously… Read More

FINRA Action on uFundingportal: Potential for Fraud Found on Crowdfunding Platform

Danger Beware

uFundingPortal (UFP, LLC), disappeared from the ranks of approved Reg CF crowdfunding platforms in early November. Before their removal, a multitude of crowdfunding industry insiders questioned the operation and the investment offers posted on the site. The posted investments lacked transparency while proposing valuations and… Read More

FINRA Said to Ban uFundingPortal as Reg CF Platform

Stop Fraud

uFundingPortal (UFP LLC) went off-line last month after receiving regulatory approval to operate as a Reg CF funding portal earlier this year.  Crowdfund Insider reported the disappearance of the site in November as questionable companies were listed with bare bones information and outlandish valuations. Industry… Read More

Funding Wonder to Launch FINRA Registered Regulation Crowdfunding Platform

funding-wonder

Funding Wonder Crowd, LLC, a small business lending platform operator, announced on Wednesday it was approved by FINRA (the Financial Industry Regulatory Authority) as a licensed Regulation Crowdfunding Portal. Sharing details about the new crowdfunding platform, Michael Mildenberger, CEO of Funding Wonder, stated: “Funding Wonder is… Read More

There are Now 21 FINRA Approved Reg CF Crowdfunding Portals

crowdfunding-now

Last time we provided an update on the Reg CF crowdfunding sector and approved funding portals there were 17 in operation. Today that number has increased to 21 FINRA approved platforms with several notable updates. Reg CF was created under Title III of the JOBS… Read More

Crowdfunding Platform uFundingPortal Goes Dark. Site Pulled from FINRA Approved List

ufundingportal-large

uFundingPortal, a Regulation CF crowdfunding platform that was, until recently, a regulated and FINRA approved platform has been shut down. Today, the site is gone and has been removed from the list of FINRA approved platforms indicative of some sort of transgression regulators could not tolerate…. Read More

FINRA Allegedly Warns Off Reg CF Portals on Use of Trusts for Escrow

halt stop hand

FINRA is a non-governmental entity that acts as a financial regulator over a wide swath of the financial industry.  Their mission is to detect and prevent wrongdoing in the US financial markets. FINRA also has enforcement powers. Last year alone they rendered over 1500 disciplinary… Read More

Newest Reg CF Crowdfunding Platform, Mr. Crowd, Has Roots in Hong Kong

Mr. Crowd and Money

The list of approved and regulated Regulation CF platforms is growing. The roster now stands at 15 FINRA regulated crowdfunding platforms.  The most recently approved platform, ‘Mr. Crowd’ has an interesting progeny as it is being launched by Allen Au and his Ksdaq, Inc. corporation…. Read More

There are Now 14 FINRA Approved Funding Portals as Created by Title III of the JOBS Act

Crowdfunding united states

Title III of the JOBS Act created a new securities exemption that allowed equity crowdfunding for non-accredited investors. This new exemption, also called Reg CF, may be viewed as another step in the capital ladder to complement Title II of the JOBS Act (accredited crowdfunding)… Read More

Brief: TruCrowd Receives Title III Crowdfunding Approval From FINRA

Vicent Petrescu

On Tuesday, equity crowdfunding platform TruCrowd announced that it has received approval from the FINRA to become a funding portal for Title III offerings. Under the Title III rules, which went into effect on Monday, the general public may now invest in capital raising by start-up… Read More

FINRA Tells Investors to Consider the Risks Under Title III Crowdfunding

Money

With Title III of the JOBS Act going into effect this upcoming Monday (May 16th), the Financial Industry Regulatory Authority (FINRA) has issued an alert to investors about the risks under the Reg CF law. Earlier this year, both the SEC and FINRA finalized the rules for funding portals… Read More

StartEngine is Ready For Regulation Crowdfunding: Announces Approval from FINRA & SEC

Ron Miller

With Title III of the JOBS Act finally going into effect on May 16th, StartEngine has announced it has received approval from FINRA and the SEC to operate a Reg CF funding portal. Title III crowdfunding will join the other two variants of investment crowdfunding, Title… Read More

IOSCO Lists Crowdfunding, Cryptocurrencies on List of Investor Risks

The Earth Globe World

The International Organization of Securities Commissions (IOSCO) has included crowdfunding, bitcoin / cryptocurrencies in their March report as part of their long list of investor risks and concerns regarding financial stability. IOSCO is the international body that brings together securities regulators from around the world…. Read More

Report: SEC Has Received 30 Applications for Title III Crowdfunding Portals

Reg CF Title III

Title III crowdfunding will join the other two variants of investment crowdfunding, Title II and Title IV (Reg A+) this coming May to create a more vibrant capital ladder for companies seeking to raise capital using the internet. While no exemption is perfect, both accredited… Read More

Scottsdale Capital Advisors Challenges FINRA Authority to Regulate in Federal Court

Accountability

Scottsdale Capital Advisors Corp is challenging the Financial Industry Regulatory Authority’s (FINRA) ability to act as a securities regulator in Maryland federal court by stating it does not truly have a Congressional mandate to wield such power. The lawsuit is in response to proceedings pertaining… Read More

Working To Change The Definition of Accredited Investor – A Tale of Two Schweikert Bills

Should you be an accredited investor

  There has been a lot of chatter and debate lately on how, or even if, the current definition of “accredited investor” should be substantively changed. To date, however, there has only been one affirmative action taken to actually change the definition which I am… Read More

Crowdfunding Portals Prepare for Title III Retail Crowdfunding

Gates Open for Title III

Last week both the SEC and FINRA finalized the rules for funding portals to offer securities under Title III of the JOBS Act of 2012.  The journey to get to this place has been long and at times challenging as regulators and industry participants debated… Read More