NEW DELHI: Vested Finance, an funding platform that permits Indians to spend money on the US markets, by way of its affiliated entity, VF Securities, has acquired a FINRA-registered US broker-dealer.
Vested is the one fintech platform working in India that has obtained a license from FINRA, which is the regulatory physique for brokers and sellers in the US.
FINRA is regulated and audited by the Securities and Trade Fee (SEC). The group is devoted to defending buyers and safeguarding market integrity in a fashion that facilitates vibrant capital markets.
A government-authorized not-for-profit group, it oversees greater than 624,000 brokers throughout the nation and ensures that the trade performs pretty and actually.
Having a broker-dealer license comes with the next advantages for Vested buyers.
Investments by way of the Vested platform at the moment are below US broker-dealer rules: Investments by way of the Vested platform have at all times been coated below the Securities Investor Safety Company (SIPC) insurance coverage by way of its clearing agency, Drivewealth, and Securities and Trade Fee jurisdiction. Now that Vested is a US broker-dealer, securities investments by way of the Vested platform additionally come below US broker-dealer rules.
Traders can now entry over 5,000 shares and ETFs through Vested: To date, buyers have been in a position to spend money on 1,500+ shares and ETFs by way of the Vested platform, however with this license, they’ll now get entry to a large universe of 5,000+ securities on Vested. To get entry to all these securities, Vested customers with an current ‘traditional’ account can replace to the ‘all-access’ account freed from value.
Viram Shah, co-founder and chief govt officer, Vested Finance, mentioned, “First, the broker-dealer license helps us construct deeper belief with our clients as buyers on our platform now know that they’re investing through an entity that’s regulated each as an RIA and a broker-dealer within the US. The US rules make sure that buyers can take part out there with confidence. Additional, buyers will now have entry to a wider gamut of securities on our platform which provides them extra investing choices.”
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