🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

FINRA Starts Investigating Retail Communication of Crypto Companies

FINRA Starts Investigating Retail Communication of Crypto Companies

FINRA aims to determine whether or not crypto firms were misleadingly advertising their products and services.

The Financial Industry Regulatory Authority (FINRA), a private American corporation that acts as a self-regulatory organization regulating member brokerage firms and exchange markets, has launched an examination of “firm practices regarding retail communications concerning Crypto Asset products and services.”

According to the target exam letter released on FINRA’s website, the authority will be looking exclusively into communication shared between July 1st and September 30th, 2022.

What is the Metaverse? (Meaning + Animated Examples)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is the Metaverse? (Meaning + Animated Examples)

What is the Metaverse? (Meaning + Animated Examples) What is the Metaverse? (Meaning + Animated Examples)

The FINRA’s investigation applies to all written communication, video, social media, websites, and mobile apps available to more than 25 retail investors over the period of 30 days.

In the notice sent to unrevealed companies, FINRA is asking them to provide all retail communication related to crypto assets, including crypto services like holding and transferring cryptocurrencies.

On top of that, FINRA expects crypto firms to provide detailed information related to retail communication, such as the date it was made public, “whether or not the Communication was filed with FINRA’s Advertising Regulation Department, whether or not each Communication <...> was approved by a registered principal of the firm” and identify each crypto asset or service the communication ''refers to, relates to, or concerns.”

Moreover, FINRA has requested companies to share “written supervisory procedures concerning the review, approval, record keeping and dissemination of Communication.” Nevertheless, crypto firms are asked to unveil compliance policies, training materials, or any written guidelines and provide any contracts made with affiliates that created their retail communication.

Based on some sources, the investigation began on November 14th to determine whether or not some crypto products or services were falsely advertised.

Crypto advertising has become one of the main focuses of regulators across the globe. At the beginning of September, The Office of the Securities and Exchange Commission (SEC) in Thailand tightened the rules for crypto advertising. On the other hand, at the end of August, Dubai’s Virtual Asset Regulatory Authority (VARA) released new guidelines for crypto advertising, promotions, and marketing.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating