According to FINRA, EnrichHer Funding LLC, a funding portal based in Atlanta, Georgia, was expelled from FINRA membership for failure to provide information or keep information current as required by FINRA Rule 9552.

Funding portals are a type of FINRA member that operates platforms for crowdfunding offerings under Regulation Crowdfunding. These portals must maintain their FINRA membership and comply with all applicable rules to continue operating.

When FINRA members fail to provide required information or keep their registration information current, FINRA may initiate proceedings under Rule 9552. If the deficiencies are not corrected, the ultimate sanction is expulsion from FINRA membership.

Expulsion is the most severe sanction FINRA can impose on a firm. It means the firm can no longer operate as a FINRA member and cannot conduct securities business that requires FINRA membership.

For investors who may have participated in crowdfunding offerings through this portal, the expulsion does not necessarily affect the status of their investments in the underlying companies. However, it may affect their ability to access information or services that were provided through the portal.

This case underscores the importance of firms maintaining current regulatory filings and responding to FINRA information requests. Failure to do so can result in loss of the ability to conduct business.