Tagged: finra

September 26, 2020 @ 9:24 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Trading and Markets, issued a no-action letter to FINRA yesterday afternoon that impacts certain trading platforms that serve as markets for digital assets that are securities. FINRA is a self-regulatory entity that coordinates with the SEC regarding… Read More

September 10, 2020 @ 9:35 am By JD Alois  |  

tZERO, a subsidiary of Overstock (NASDAQ:OSTK), has received approval from the Financial Industry Regulatory Authority (FINRA) to offer retail brokerage services for digital securities and provide issuers with investment banking and placement agent services in connection with capital raising activities. tZERO CEO Saum Noursalehi called… Read More

September 1, 2020 @ 11:19 pm By JD Alois  |  

  The number of FINRA regulated funding portals continues to increase. Created by the JOBS Act of 2012, a “funding portal” is a bit like a broker-dealer light and may offer securities under Reg CF (Regulation Crowdfunding). While an approved broker-dealer may sell securities under… Read More

July 29, 2020 @ 10:59 am By Samantha Hurst  |  

Canadian regtech company iComply Investor Services announced on Wednesday its listing in the Financial Industry Regulatory Authority (FINRA) Compliance Vendor Director, which notably features vendors that offer products, solutions, and services to firms overseen by the U.S. regulator. Founded in 2017, iComply claims to be the… Read More

June 25, 2020 @ 7:00 am By JD Alois  |  

Word on the street is there has been a recent increase in applications to become a FINRA regulated Funding Portal. A funding portal is a relatively new entity created under the JOBS Act of 2012. Funding portals may raise capital under Regulation Crowdfunding, commonly referenced… Read More

June 11, 2020 @ 4:46 pm By JD Alois  |  

FINRA’s Office of Financial Innovation has posted a report on Artificial Intelligence (AI) and the securities industry. Financial services firms are incorporating AI into a growing number of services. FINRA is seeking to engage with this sector of Fintech to better understand the impact on… Read More

May 21, 2020 @ 1:43 pm By JD Alois  |  

This past week, Reg CF (or Regulation Crowdfunding) celebrated its 4th birthday. Reg CF is one of three securities crowdfunding exemptions that were created by the JOBS Act of 2012. While Reg CF became law back in 2012, it took the Securities and Exchange Commission… Read More

March 31, 2020 @ 5:37 pm By JD Alois  |  

Tripoint Global Equities, an early advocate of issuing securities under updated rules for Reg A+, has filed with the Securities and Exchange Commission to shut down its broker-dealer . The information was part of a recently filed Focus report. To quote the document: “On March 13,… Read More

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