Tag Archives: dreamfunded

FINRA Issues First Litigated Enforcement Action Against Crowdfunding Portal

By Herbert F. Kozlov, C. Neil Gray, Le-el D. Sinai and Daphne Lambadariou on 21 June 2019 Posted in FinTech Trends, Regulatory Compliance

On June 5, 2019, a Financial Industry Regulatory Authority (FINRA) panel handed down its first enforcement action against a funding portal. DreamFunded, a crowdfunding platform, was banned from FINRA membership, and Manny Fernandez, DreamFunded’s CEO, was barred from association with any FINRA funding portal member. DreamFunded and Fernandez were further ordered to cover $15,900 in … Continue Reading