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FINRA Suspends EnrichHer Funding LLC for Failure to Provide Information Under Rule 9552

2024-09-03

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According to FINRA, EnrichHer Funding LLC (Funding Portal Org ID #292218) of Atlanta, Georgia was suspended for failure to provide information or keep information current pursuant to FINRA Rule 9552. The suspension became effective on September 3, 2024. This action is associated with FINRA Case #2023077514101. EnrichHer Funding LLC operates as a funding portal, which is a type of entity registered with FINRA to facilitate crowdfunding offerings under Regulation Crowdfunding. Funding portals serve as intermediaries that connect small businesses and entrepreneurs seeking capital with investors looking to participate in crowdfunding offerings. These portals are subject to FINRA oversight and must comply with applicable rules, including the obligation to provide requested information and maintain current records. FINRA Rule 9552 is an administrative proceeding that allows FINRA to suspend a member or associated person who fails to provide information or keep information current as required by FINRA rules. The rule provides for a notice to the entity identifying the deficiency and a deadline by which the entity must comply. If the entity fails to respond or remedy the deficiency within the specified timeframe, the suspension takes effect. This process is designed to ensure that FINRA has the information necessary to carry out its regulatory responsibilities and to protect investors who participate in securities offerings through these platforms. When a funding portal is suspended, it cannot facilitate any new crowdfunding offerings or conduct other regulated activities during the suspension period. This can have significant implications for both the entrepreneurs who rely on the platform to raise capital and the investors who may have pending investments through the portal. The suspension of a funding portal underscores the importance of regulatory compliance for all entities that participate in the securities markets, regardless of their size or the type of offerings they facilitate. Investors who have participated in crowdfunding offerings through a suspended portal should monitor their existing investments carefully and be aware that the portal's inability to operate during the suspension period may affect ongoing communications and services related to their investments.

Violation :

Suspended for failure to provide information or keep information current pursuant to FINRA Rule 9552

Tags :

EnrichHer Funding LLC,
GA
CRD Number : 292218

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