Tagged: finra

Has the SEC Slammed the Brakes on Blockchain Innovation?

The Securities and Exchange Commission (SEC) has talked up their innovation cred and support of Fintech for years. Under previous Chair Mary Jo White, the SEC held the very first Fintech Forum which saw both industry participants and policymakers engage with each other in collaborative… 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

What’s the Back Story to Security Token Offerings and Regulation?

The initial coin offering (ICO) / Security Token Offering (STO) continues to endure a period of regulatory uncertainty. As things stand right now, ICOs are securities. End of story. If you completed an ICO after the Securities and Exchange Commission (SEC) issued the DAO Report… 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

Caution: Online Funding Platforms Will Encounter More Regulatory Scrutiny in 2019

On January 22, 2019, the Financial Industry Regulatory Authority (FINRA) released its examination priorities for 2019.  At the top of the list was online funding platform compliance with the securities laws. With an uptick in the offer and sale of securities offerings online with Rule… 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

A Potential Pathway Forward for U.S. Initial Coin Offerings

This summer, with little fanfare, the North American Securities Administrators Association (NASAA) announced some interesting and, in our view, directionally enlightened ideas on potential changes to state securities laws as they relate to secondary market trading. If you aren’t familiar with NASAA, it is a… Read More

Attorney on SEC & Crypto Asset Marketplaces: “By Not Allowing Intermediaries They Are Stifling Innovation”

Recently, at the StartEngine Summit during LA Blockchain Week, CI had the chance to sit down with prominent securities attorney Linda Lerner. Lerner is Senior Counsel at Crowell Moring and a veteran lawyer with deep experience and expertise in securities issuance and regulation of stock exchanges…. 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

FINRA Charges “HempCoin” ICO-Issuer with “Unlawful Distribution of Cryptocurrency Securities”

FINRA announced today that it has charged the Massachusetts creator of the “HempCoin” ICO (initial coin offering) with securities fraud and, “the unlawful distribution of an unregistered cryptocurrency security…” FINRA, a Washington, DC-based self-regulatory organization of considerable might that presides over American securities brokers, claims that,… Read More

FINRA Podcast on Fintech: How are Financial Regulators Keeping Up with Innovations in Finance?

FINRA ( Financial Industry Regulatory Authority) has been doing a series of podcasts, called FINRA Unscripted, for some time now. Their most recent segment covered Fintech posing the rhetorical question as to how regulators are keeping up with the pace of change. In 2017, FINRA… Read More

FINRA Issues Investor Alert on Initial Coin Offerings

FINRA (Financial Industry Regulatory Authority), the SRO that oversees all of the broker dealers in the US, has issued an investor alert pertaining to initial coin offerings (ICOs). In the alert, FINRA states: “[We are] issuing this alert to inform investors that investments in digital… Read More

FINRA Issues Special Notice on Fintech and the Broker Dealer Industry

  FINRA (Financial Industry Regulatory Authority) has issued a consultation on Financial Technology or Fintech and the Broker Dealer industry. The Special Notice was published at the end of July and is seeking comments until October 12, 2018. FINRA currently has over 3700 member firms… Read More

Attorney Steven Gatti: “FINRA’s Digital Assets Notice is Sweeping in its Coverage and Raises Important Considerations”

Recently, the Financial Industry Regulatory Authority (FINRA) – the self regulatory organization (SRO) that oversees broker dealers and other financial firms – issued a “Regulatory Notice” on digital assets. Digital assets, as defined by FINRA, include just about anything associated with blockchain including digital assets that… Read More

FINRA “Encourages” Investment Broker-Dealers to Disclose Crypto Activities

The Financial Indunstry Regulatory Authority (FINRA), a self regulatory organization that oversees the conduct of investment product dealers in the US, has urged firms to ongoingly and voluntarily disclose any involvement they may have with cryptocurrency products (digital assets) and production, and reminds them to,… Read More

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