KYC & AML compliance is at the forefront of sports betting. What can your company do to stay competitive & in compliance in 2021?

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By Vanessa Malone

In 2018, the U.S. Supreme Court overturned the Professional and Amateur Sports Provision Act of 1992 (PASPA), clearing the way for states to legalize online sports betting.

In just two years, more than half of U.S. states have either legalized sports betting or introduced legislation to do so. As of November 4, 2020, 19 states offer single-game sports betting to consumers through retail and online sportsbooks, 6 states have legalized sports betting but are not yet operational, and 2 states have introduced bills to legalize sports betting.

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Data Source: American Gaming Association, 2020

According to Research and Markets, the sports betting market was valued at $85.047 billion in 2019. While in-person sports betting has taken a hit from COVID-19 in 2020, many have turned to the world of online sports betting. …


What is equity crowdfunding and what could the future have in store?

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By Vanessa Malone

Equity crowdfunding is a capital raising method typically utilized by startups and small businesses, whereby companies leverage social media, email, and other digital marketing efforts to sell securities to fans and customers.

We have the JOBS Act of 2012 signed into law by President Barack Obama to thank for the Regulation A+ (Reg A+) and Regulation CF (Reg CF) exemptions that gave investors of all levels access to early stage investment opportunities. Traditionally, these private investment opportunities were reserved for high-net worth individuals. Equity crowdfunding works to level the playing field.

These new rules didn’t come into effect until 2015 and 2016 but in just 5 years, equity crowdfunding has established itself as an attractive way to raise meaningful capital from the crowd. …


What the new equity crowdfunding amendments could mean for issuers and investors

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By Vanessa Malone

This week, the Securities and Exchange Commission “SEC” officially amended rules under the Securities Act of 1933 to simplify and improve common securities exemptions companies use to raise capital.

The welcomed updates to capital raising vehicles Regulation A+ (Reg A+), Regulation CF (Reg CF), and Regulation D (Reg D) are the final results from the SEC’s concept proposal and public comments presented earlier this year.

  • Reduce friction as issuers move from one exemption to another
  • Increase capital raising limits and amend certain investor eligibility rules
  • Provide clarity to issuers and investors regarding offering communications
  • Amend what issuers need to disclose and what makes them eligible to invest in equity crowdfunding…

Led by former NFL players and executives Ryan McNeil, Ray Farmer, & Garrick Jones

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By Vanessa Malone

Yesterday, we announced that Horizon has partnered with former NFL executives and players Ryan McNeil, Ray Farmer, and Garrick Jones to launch Global Fan Exchange “GFX,” a sports platform that will allow fans to invest and ultimately trade shares tied to a portion of athletes and teams’ income streams.

Interested sports fans can learn more and join the investor waitlist at https://globalfanexchange.com/. Interested agencies and athletes can reach the management team at horizon@globalfanexchange.com.

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GFX is not another fantasy sports app. With the GFX app, fans will have the opportunity to own actual equity stakes in the future of their favorite professional athletes. GFX’s end-to-end funding and fan engagement solution is built and we’re actively recruiting U.S. …


KYC/AML compliance shortcomings and opportunities

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By Vanessa Malone

In the last few months, major cracks have been revealed in the current Know Your Customer “KYC” and anti-money laundering “AML” compliance landscape for financial institutions.

In May 2020, a leaked bulletin prepared by the U.S. Federal Bureau of Investigation reported that bad actors are likely using hedge funds and private equity firms to launder money and avoid anti-money laundering roadblocks. The FBI reported that it assumes AML programs are not adequately designed to monitor and detect threat actors’ use of private investment funds to launder money.

Last month the “FinCEN Files,” a culmination of a 16-month long investigation led by BuzzFeed News and the International Consortium of Investigative Journalists (ICIJ), revealed that major banks have continued to process payments identified as being at high risk of money laundering and other crimes. …


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By Vanessa Malone

This week, Horizon, Finceler8, and the UK Department for International Trade (DIT) hosted a webinar to discuss the state of capital raising with a focus on regulatory and fintech challenges across the U.S. and U.K.

Panelists included Jessica Bartos, Investment Manager at Albion VC who has advised companies and investors like AT&T, Intel, KPN, Apax Partners and The Carlyle Group, amongst others; Mark Elenowitz, President of Horizon and Wall Street veteran known for leading the first Reg A+ IPO of a company to list on the NYSE; and Matt Smith, CEO of SteelEye which has secured $20 million in funding over the last three years. …


Horizon aims to supply broker dealers and other securities firms with integrated KYC/AML compliance solutions

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By Vanessa Malone

This week we announced that Horizon Fintex (Horizon) is now listed in the FINRA Compliance Vendor Directory (CVD), a resource developed to help regulated firms better locate and assess vendors providing compliance-related products and services. The listing affirms our commitment to compliance and to fueling the securities industry with streamlined onboarding solutions.

As a new participant of the FINRA CVD, FINRA members can review Horizon’s KYC compliance and AML screening solutions, KYCware and AMLcop, which integrate proprietary Know Your Customer “KYC” and anti-money laundering “AML” technology to enhance a firm’s compliance program. …


Own a piece of the fintech company unlocking global retail liquidity in the multi-billion dollar crowdfunding market

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By Vanessa Malone

Due to the unforeseen circumstances caused by the COVID-19 pandemic, Horizon took a pause on capital raising and instead focused our efforts on enhancing our securities technology ecosystem and creating meaningful partnerships with whom to deploy our technology.

We are now happy to announce the re-launch of Horizon’s $5 million Series A funding round which is now live and open for investments. You can request the offering materials here or by emailing us at offering@horizonfintex.com.

Horizon is a fintech company that builds and powers global securities exchanges, with the goal of unlocking liquidity for traditionally illiquid asset classes. …


Considerations for financial institutions looking to re-approach their AML compliance programs

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By Vanessa Malone

Last week, the Financial Crimes Enforcement Network (FinCEN) announced a plan to make significant reforms to the U.S. anti money laundering system.

Coincidentally this announcement came just days before the release of the “FinCEN Files,” a culmination of a 16-month long investigation led by BuzzFeed News and the International Consortium of Investigative Journalists (ICIJ) which revealed that major banks have continued to process payments identified as being at high risk of money laundering and other crimes.

The investigation analyzed more than 2,000 leaked Suspicious Activity Reports (SARs) filed with FinCEN between 1999 and 2017 and leveraged investigative journalists from more than 100 news organizations in 88 countries. …


Hosted by Horizon, Finceler8, and UK Department for International Trade (DIT)

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Horizon, Finceler8, and the UK Department for International Trade (DIT) are excited to be hosting an upcoming webinar to discuss the state of capital raising with a focus on regulatory and fintech challenges across the U.S. and U.K.

The live panel, including additional speakers from Albion VC and SteelEye, will take place on Tuesday, October 13, 2020 from 12:00pm to 1:15pm EST. Interested attendees may click here to RSVP.

Panelists include Jessica Bartos, Investment Manager at Albion VC who has advised companies and investors like AT&T, Intel, KPN, Apax Partners and The Carlyle Group, amongst others; Mark Elenowitz, President of Horizon and Wall Street veteran known for leading the first Reg A+ IPO of a company to list on the NYSE; and Matt Smith, CEO of SteelEye which recently secured $10 million in Series A funding. …

About

Horizon offers a suite of integrated securities software applications for compliant issuance through secondary trading of electronic securities.

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