Tagged: finra

March 5, 2020 @ 8:35 am By JD Alois  |  

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

December 24, 2019 @ 11:40 am By JD Alois  |  

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

December 24, 2019 @ 7:35 am By Omar Faridi  |  

US-headquartered digital asset brokerage firm BitOoda has acquired $7 million in capital from several large investors including a former senior investment executive at JPMorgan, the world’s sixth-largest bank. Established in 2017, BitOoda is an established crypto-asset financial services provider that aims to leverage applied science… Read More

December 19, 2019 @ 1:28 pm By JD Alois  |  

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

December 8, 2019 @ 8:51 pm By Omar Faridi  |  

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

November 18, 2019 @ 1:00 pm By JD Alois  |  

Periodically, Crowdfund Insider revisits the Reg CF sector of online capital formation. Reg CF or “Regulation Crowdfunding” may have garnered most of the attention from popular media but really there are three individual crowdfunding exemptions including Reg A+ and Reg D 506c. Under Reg A+… Read More

October 15, 2019 @ 10:59 am By Omar Faridi  |  

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

August 25, 2019 @ 10:25 pm By Samantha Hurst  |  

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

July 20, 2019 @ 12:25 pm By JD Alois  |  

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

July 8, 2019 @ 3:40 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Trading and Markets, has joined with the Financial Industry Regulatory Authority (FINRA) in issuing a statement regarding the custody of digital assets and broker-dealers. Custody of digital assets is a pressing concern for industry participants. Similar to… Read More

July 7, 2019 @ 7:00 pm By JD Alois  |  

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

May 4, 2019 @ 4:15 pm By JD Alois  |  

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

April 26, 2019 @ 11:15 am By JD Alois  |  

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

April 24, 2019 @ 5:29 pm By JD Alois  |  

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

April 16, 2019 @ 1:08 pm By JD Alois  |  

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

March 9, 2019 @ 2:03 pm By JD Alois  |  

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

March 4, 2019 @ 10:01 am By JD Alois  |  

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

February 14, 2019 @ 9:01 pm By JD Alois  |  

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

January 31, 2019 @ 8:52 pm By Scott Andersen  |  

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

January 27, 2019 @ 9:23 pm By JD Alois  |  

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