M1 Finance

FINRA Fines M1 Finance $850,000 for Violations Regarding Use of Social Media Influencer Program

Retrieved on: 
Monday, March 18, 2024
Social Media, Influencer, Other Professional Services, Legal, Other Communications, Law Enforcement, Emergency Services, Finance, Consulting, Banking, Communications, Business, Accounting, Professional Services, Public Policy, Government, Digital Marketing, Online, M1 Finance, Letter, Public, Principle, Rulemaking, Social media, Sale, Communication, Acquisition, Municipal Securities Rulemaking Board, FINRA, Financial adviser

This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.

Key Points: 
  • This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.
  • “As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical.
  • M1 Finance also provided its influencers with graphics and a “Welcome Guide” that described specific services and features available through M1 Finance that influencers could highlight to make their social media posts more effective.
  • For example, an influencer advertising M1 Finance’s margin lending program stated that customers could “pay [margin loans] back at any given time .

FINRA Orders Four Firms to Pay $2.6 Million for Violations Relating to Fully Paid Securities Lending

Retrieved on: 
Wednesday, December 6, 2023
Professional Services, Other Professional Services, Legal, Finance, Consulting, Banking, Accounting, Online, Disclosure, Public, M1 Finance, Advertising, Rulemaking, FINRA, Municipal Securities Rulemaking Board, Financial adviser, Security (finance)

“It is imperative that FINRA member firms offering fully paid securities lending programs exercise particular care in supervising them.

Key Points: 
  • “It is imperative that FINRA member firms offering fully paid securities lending programs exercise particular care in supervising them.
  • Fully paid securities lending is a practice through which a clearing firm borrows a customer’s fully paid or excess margin securities and lends them to a third party in exchange for a daily borrowing fee.
  • If a customer chooses to enroll in a fully paid lending program, the clearing firm determines which securities to borrow, when, and on what terms.
  • The four broker-dealer firms that FINRA has sanctioned failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to supervise their fully paid securities lending offerings.

Brassica Raises $8M, Secures WY Trust Charter, and Unveils New Web 2.5 Investment Infrastructure API for Alternative Investment Ecosystem

Retrieved on: 
Tuesday, April 11, 2023
Professional Services, Technology, Finance, Software, Fintech, Digital Cash Management, Digital Assets, Morgan Stanley, JPMorgan Chase, UI, Brassica, Failure, M1 Finance, Mercury, EVP, API, Trust, The Funding Portal, Republic, Engineering, UX, Safety, Security (finance), Cryptocurrency

The seed funding brings the total capital raised by Brassica to date to over $12 million.

Key Points: 
  • The seed funding brings the total capital raised by Brassica to date to over $12 million.
  • In addition, the Company announced that its wholly-owned subsidiary Brassica Trust Company has been granted a Trust Charter by the Wyoming State Banking Board.
  • By offering multiple distinct but related financial infrastructure services via API, Brassica will become a "one-stop shop" for the alternative assets industry, with institutional-grade backend solutions that can seamlessly integrate with any platform's native UX/UI preferences.
  • Brassica will focus on maintaining the safety of customer assets while enabling and accelerating thoughtful innovation in the alternative investments industry,” added Mr. Lee.

eHealth Appoints Ketan Babaria as Chief Digital Officer

Retrieved on: 
Monday, January 23, 2023
Ketan, LifeLock, Chief digital officer, Organization, EHealth, Growth, SVP, Roofstock, Capital One, M1 Finance, Management

SANTA CLARA, Calif., Jan. 23, 2023 /PRNewswire/ -- Today eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading private online health insurance marketplace, announced the appointment of Ketan Babaria as SVP, Chief Digital Officer.

Key Points: 
  • SANTA CLARA, Calif., Jan. 23, 2023 /PRNewswire/ -- Today eHealth, Inc. (Nasdaq: EHTH) ( eHealth.com ), a leading private online health insurance marketplace, announced the appointment of Ketan Babaria as SVP, Chief Digital Officer.
  • "The growth and fusion of this team shapes the future of our business, and the addition of Ketan Babaria advances our corporate objectives.
  • Mr. Babaria joins eHealth from M1 Finance where he served as Chief Product Officer, responsible for defining the company's product vision, strategy, and roadmap to drive growth and profitability.
  • Prior to M1 Finance, Mr. Babaria served as Chief Product Officer at Roofstock, Head of Product at LifeLock, and Sr. Director and Head of Product, D3 Incubation Unit at Capital One.

Investment App Composer Raises $6M to Advance How Consumers Invest

Retrieved on: 
Wednesday, September 14, 2022
Time, Algorithm, First Round Capital, Risk, M1 Finance, Growth, Investment, History, Composer, CEO, Technology, Logic, Illusion, AUM, Research, Multimedia, Public utility, Marvel Masterworks

TORONTO, Sept. 14, 2022 /PRNewswire/ -- Composer Technologies Inc., the US focused automated investing platform, today announced that it has raised an additional $6M in funding, bringing its total raised to over $11M. The round was led by New York-based Left Lane Capital, and joined by existing investors First Round Capital, AVG Basecamp, Draft Ventures and Not Boring Capital. The funding is driven by several recent key growth indicators showcasing increased customer demand for Composer's platform and a significant market fit, including over 400% of growth in trading volume and 600% growth in AUM just in the past few months despite the broader market downturn.

Key Points: 
  • Investors are taking a sober look at their strategies and are increasingly thinking about how they can invest more intelligently going forward, that is where Composer comes in."
  • Its powerful platform allows investors to automatically invest in strategies that react to the market and capture the upside, while protecting their downside.
  • Composer offers users the ability to build, backtest, and invest in strategies, using a beautifully designed no-code editor.
  • At Composer, investment strategies respond to evolving market conditions based on logic and data.

Diamond Standard Closes $30 Million Series A Investment Round Led by Left Lane Capital and Horizon Kinetics

Retrieved on: 
Wednesday, September 14, 2022
Diamond, GIA, Time, Gemological Institute of America, Diamond Standard, Efficiency, International Gemological Institute, Deloitte, Internet, CME, M1 Finance, Investment, CEO, Silver, Goal, Fifth Avenue, Heel, Chicago Mercantile Exchange, Platinum, Multimedia, MGEX, Gemstone, Cryptocurrency, Video game, Masterworks Chorale

NEW YORK, Sept. 14, 2022 /PRNewswire/ -- Diamond Standard Co., developer of the world's only regulator-approved diamond commodities, today announced the closing of a $30 million investment round co-led by Left Lane Capital and Horizon Kinetics .

Key Points: 
  • NEW YORK, Sept. 14, 2022 /PRNewswire/ -- Diamond Standard Co., developer of the world's only regulator-approved diamond commodities, today announced the closing of a $30 million investment round co-led by Left Lane Capital and Horizon Kinetics .
  • With the recent launch of the Diamond Standard Bar and Diamond Standard Fund , additional production capacity is needed to meet rapidly growing investor demand.
  • "The Diamond Standard offerings are a perfect fit for the contrarian, innovation, value and inflation protection goals of Horizon Kinetics and like-minded investors," said Murray Stahl, Co-Founder & CEO of Horizon Kinetics.
  • Left Lane Capital has made investments into some of the most promising internet and consumer technology companies in four continents.

Culture Amp Expands US Presence with New Office in Chicago

Retrieved on: 
Tuesday, September 13, 2022
People, BigCommerce, Salesforce, Workforce, Culture, City, M1 Finance, Growth, SoulCycle, CST, PricewaterhouseCoopers, Forbes, Technology, KIND, Fast Company, Data, Collection, Multimedia, View, Video game, Management, Online shopping, Unilever

CHICAGO, Sept. 13, 2022 /PRNewswire/ -- Culture Amp, the world's leading employee experience platform, today announced the opening of an office in Chicago that debuts an innovative approach to supporting the future of hybrid work environments. The company was drawn to the Chicago area due to its central location, talented workforce, and reputable educational institutions. To mark this announcement, Culture Amp will be hosting a people science-themed event on September 29 as an opportunity to welcome local employees, customers, media, and the local community to the space.

Key Points: 
  • Culture Amp is confident the new hybrid Chicago office will foster a sense of community for both existing employees and new employees joining the team, especially those who are early in their career.
  • Diversity of talent from a variety of backgrounds continues to be a focus for Culture Amp as they look to hire and expand their footprint in the Chicago area.
  • Culture Amp is currently hiring across North America hybrid positions that span across these three cities as well as remote positions.
  • At 6:00pm CST on September 29, 2022, Culture Amp will host an inaugural event, People Geekup Chicago, at their new office.

Skematic Launches Workflow Management Solution for Regulated Industries

Retrieved on: 
Thursday, September 8, 2022
COO, University, CEO, Technology, Frustration, JPMorgan Chase, St. John's University School of Law, JD, Solution, AML, Saint John's University, Nationwide Mutual Insurance Company, JD/MBA, ARR, George Washington University, M1 Finance, University School, Compliance, Law, Smarsh, Science and technology in Asia, Risk, Environment, Forest Capital Museum State Park, Tutoring, Audit, Management, Indiana University

NEW YORK, Sept. 8, 2022 /PRNewswire-PRWeb/ -- New Solution Redefines Collaboration for Compliance Departments

Key Points: 
  • Skematic will elevate a firm's compliance footprint by automating processes and removing the frustration that exists in manual and analog functions.
  • With an emphasis on user experience, Skematic provides an end-to-end architecture specific to the dynamic needs of compliance and legal teams.
  • "We're providing the first workflow management solution designed specifically for compliance teams," said Skematic's CEO and Co-founder Charles Steerman.
  • Backed by more than three decades of regulatory technology experience, our mission is to provide the first workflow management solution designed specifically for regulated industries as viewed through the eyes of compliance professionals.

Arc Raises $20 Million Series A Led By Left Lane To Build The Digital Bank For Software Startups

Retrieved on: 
Tuesday, August 16, 2022
Technology, Finance, Fintech, Banking, Electronic Commerce, Professional Services, Software, Internet, Data Management, Y Combinator, CEO, Growth, Investment, Leadership, Board, Software as a service, The Dreamers, Member, M1 Finance, FDIC, Board of directors, Solution, Entrepreneurship, Bain Capital Ventures, Financial services, Cryptocurrency, Bank, Arc, Jeeves

Arc , the future of startup finance, today announced that it has closed a $20 million Series A financing round led by Left Lane Capital.

Key Points: 
  • Arc , the future of startup finance, today announced that it has closed a $20 million Series A financing round led by Left Lane Capital.
  • The company also announced that Dan Ahrens, Managing Partner at Left Lane Capital, will join its Board of Directors.
  • We are building the #1 digital bank for software startups, said Don Muir, Co-Founder and CEO of Arc.
  • This capital injection will help us build and scale Arc Treasury to meet the digital banking needs of a new generation of software-driven businesses.

Project Solar Raises $23 Million Series A to Expand its Low-Cost Digital Solar Offering

Retrieved on: 
Saturday, August 6, 2022
Multimedia, DIY, Industry, ROI, CEO, Technology, Growth, Investment, Sale, Solar energy, Climate, Awareness, M1 Finance, NREL, Efficiency, Entrepreneurship, Renewable energy, LEHI, Columbia Masterworks Records

Nationally, our customers see an average ROI of 18% in the first year," says Trevor Hiltbrand, CEO and Co-Founder of Project Solar.

Key Points: 
  • Nationally, our customers see an average ROI of 18% in the first year," says Trevor Hiltbrand, CEO and Co-Founder of Project Solar.
  • Project Solar sells at an average of $2.20/watt while the national average sale price for residential solar hovers around $3.90/watt (source NREL ).
  • "Solar has never been more attractive from an investment perspective, nor more needed from an environmental perspective," says Matthew Smith, President and Co-Founder of Project Solar.
  • Project Solar is on track to having 30 megawatts of solar installed this year, with the goal of installing 150 megawatts during 2023.