Search Results for: FINRA

Fintech AlphaPoint Raises $5.6 Million, FINRA Board of Governors Member Joins AlphaPoint Board

AlphaPoint, a Fintech that powers digital asset exchanges, has raised an additional $5.6 million in new funding, according to a note from the company. Simultaneously, AlphaPoint has announced a significant appointment as FINRA Board of Governors Member, and CEO of Janney (a wealth management firm),… Read More

There are Now Three Reg CF Funding Portals that Have Been Suspended Due to Unpaid FINRA Fees

The number of FINRA regulated “funding portals,” investment crowdfunding platforms that have been approved to issue securities under Reg CF, has continued to move upward since the new entity was created under the JOBS Act of 2012. Today, there are well over forty funding portals…. Read More

FINRA Slams Robinhood with $1.25 Million Fine for Trade Order Routing Shortcomings

FINRA, the regulator for US broker-dealers, has slapped Robinhood – a Fintech trading platform, with a $1.25 million fine for violations pertaining to order routing. While long rmored inside the industry, Robinhood has been assesed the penalty due to “best execution violations.” Robinhood is a… Read More

FINRA Selects Amazon Web Services as Cloud Service Provider for Market Surveillance Data

The Financial Industry Regulatory Authority (FINRA), a private US-based corporation that acts as a self-regulatory organization, has chosen Amazon Web Services (AWS) (NASDAQ:AMZN) as its cloud service provider for market surveillance data. AWS’s cloud services will be used by FINRA’s consolidated audit trading (CAT) subsidiary…. Read More

Grayscale Receives Regulatory Clearance from FINRA to Offer Publicly-Traded Digital Currency Fund

New York-based Grayscale Investments has obtained regulatory approval from the Financial Industry Regulatory Authority (FINRA) to list the first publicly-traded digital currency index fund. According to a press release, the company’s Digital Large Cap Fund (DLC) will be listed on over-the-counter (OTC) markets and trade… Read More

IOICM Receives Approval From the FINRA For Membership Application

IOI Capital and Markets, LLC (IOICM), an SEC registered broker-dealer and a wholly-owned subsidiary of iownit capital and markets, Inc. recently announced the Financial Industry Regulatory Authority (FINRA) has approved its membership application. IOICM reported that the approval allows it to be a placement agent… Read More

FINRA Posts Regulatory Notice on Digital Assets

FINRA, the regulator of broker-dealer in the US, has posted a notice on digital assets encouraging firms to “notify FINRA if they engage in activities related to digital assets.” The notice appears to be more of an extension to en existing request. FINRA states: “Last… Read More

Reg CF Update: Three New FINRA Regulated Portals Enter – One is Blockchain Based, One is Canadian & One to Finance Videos

Reg CF (Regulation Crowdfunding) is a unique securities rule that allows companies to raise up to $1.07 million from both accredited or non-accredited investors. Created by the JOBS Act of 2012, Reg CF is the smallest of the three online capital formation exemptions. Reg D… Read More

Crowdfunding Platform Silicon Prairie is Approved as a State Regulated Broker Dealer (No FINRA Oversight)

Silicon Prairie, an investment crowdfunding platform that offers securities as a Reg CF portal as well as under intrastate securities exemptions, is now a broker-dealer. But Silicon Prairie is not required to be regulated by FINRA as it has received approval to operate under the… Read More

Big News: Leading Crowdfunding Platform SeedInvest Receives ATS Approval From FINRA, will Add Secondary Trading for Private Securities

SeedInvest, one of the leading US-based investment crowdfunding platforms, has received regulatory approval from FINRA to operate a secondary marketplace for securities via an alternative trading system (ATS). SeedInvest is the first traditional crowdfunding platform to receive an ATS license. Providing liquidity for private securities… Read More

FINRA Creates Office of Financial Innovation to Support Fintech

FINRA, the lead regulator for broker-dealers in the US, has opened up an Office of Financial Innovation in recognition of the growing importance of Fintech. Haimera Workie, currently a Senior Director at FINRA, will become its inaugural chief. FINRA President and CEO Robert W. Cook… Read More

SEC and FINRA Schedule Broker Dealer “Outreach Program.” Will Discuss Digital Assets

The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have scheduled their 2019 National Compliance Outreach Program for Broker-Dealers. The event, taking place in Chicago, is designed to provide an open forum for regulators and industry professionals to discuss topics such as… Read More

FINRA Approves Circle’s Acquisition of SeedInvest, Continues Mission of Tokenization

FINRA has given their stamp of approval to the acquisition of SeedInvest by Circle. The crypto focused company announced the purchase of SeedInvest in October of 2018.  The acquisition of a regulated securities crowdfunding platform by the blockchain based Circle represented a seminal turning point… Read More

There are 46 FINRA Regulated Reg CF Portals. In 2018 $109.3 Million was Raised Using this Security Exemption

Periodically, Crowdfund Insider reviews the status of Regulation Crowdfunding (Reg CF) the smallest crowdfunding exemption in the US. Reg CF has been in use since May of 2016. According to a recent report published by Crowdfund Capital Advisors (CCA), $194 million has been raised in… Read More

Doug Ellenoff Comments on FINRA’s Priorities Letter & Intent to Target Online Securities Platforms, Points a Finger at ICOs

FINRA recently posted their annual Risk Monitoring and Examination Priorities Letter. As part of the letter, FINRA stated they would be evaluating how firms conduct suitability analyses as well as communications and AML requirements for both Reg D 506c and Reg A+ offerings. These two exemptions… Read More

FINRA’s Annual Risk Monitoring and Examination Priorities Letter Targets Online Platforms Issuing Securities

Last week, FINRA issued its annual Risk Monitoring and Examination Priorities Letter for 2019. The letter is a reference point as to what FINRA expects to target in the coming year. The missive includes an opening by FINRA President and CEO, Robert Cook, who said… Read More

As of January 1st, There Are 46 FINRA Approved Reg CF Crowdfunding Portals

Reg CF (or Regulation Crowdfunding as it is inconveniently called) is a securities exemption that enables companies to raise up to $1.07 million online via a regulated funding portal or broker-dealer. The concept of a funding portal was created alongside the exemption which was part… Read More

FINRA 2019 Regtech Conference – New York City

Regulation is a fundamental pillar of the financial services industry, ensuring investor protection and market integrity. As financial services firms seek to comply with regulatory requirements, they are turning to new and innovative regulatory technology (RegTech) tools to assist them in effectively and efficiently meeting… Read More

Reg CF: 44 FINRA Approved Crowdfunding Portals and Counting

In June, we updated readers on the number of FINRA approved Reg CF portals. At that time the count stood at 41 regulated crowdfunding platforms. As of today (September 21, 2018), that number has now increased to 44 FINRA approved Reg CF platforms as three new… Read More

FINRA Publishes Paper on Regtech, Seeks Feedback from Interested Parties

FINRA has published a white paper on regulatory technology or Regtech developments within the securities industry. Regtech is a hot sub-sector of Fintech as it has the potential to make the job of financial regulators easier while saving time (and money) for the firms they… Read More

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