November 08, 2023 – Trading and investing platform eToro is today announcing that U.S. CEO Lule Demmissie has been appointed to the Financial Industry Regulatory Authority (FINRA) Fintech Committee. The committee aims to provide a platform for ongoing dialogue and analysis of fintech developments, their potential impact on investors and market integrity, challenges to the adoption of fintech-based products or services, and continued support of innovation.
The FINRA Fintech Committee is comprised of 15 constituents drawn from member firms, academia, and industry participants, in addition to observers from the Securities and Exchange Commission (SEC) and North American Securities Administrators Association (NASAA). Appointed members include Neha Narula of MIT Media Lab, Joshua Hershman of UBS, Mona Vernon of Fidelity Investments, and Boris Khentov of Betterment Securities.
Commenting on her new position, Lule Demissie, eToro U.S. CEO said, “I’m thrilled to be representing eToro on the FINRA Fintech Committee alongside such talented and intelligent members. As US CEO, I witness first hand how regulation is implemented into products and the impact it has on customers. I believe that having more practitioners and people oriented toward inclusion as problem solvers in the room when creating policy will lead to capital formation. I’m excited to engage in these critical discussions on behalf of eToro to continue to improve collaboration between fintech companies and regulatory agencies.”
As a not-for-profit organization dedicated to investor protection and fair market play, FINRA regulates a critical part of the securities industry: brokerage firms doing business with the public in the United States. Under SEC oversight, FINRA writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and keeps the investing public informed on crucial developments.
Haimera Workie, Vice President and Head of the Office of Financial Innovation at FINRA, added, “The input of FINRA’s committees plays a critical role in developing rules and policies that align with FINRA’s mission of investor protection and market integrity. As a self-regulatory organization, FINRA deeply values the contributions of all who lend their time and expertise to participate in this important process.”
This appointment reaffirms eToro’s commitment to partner with U.S. regulatory bodies to balance customer protection with the need for continued innovation. eToro is a highly regulated organization operating globally under 12+ regulatory jurisdictions to offer multi-asset products to investors. eToro remains committed to working closely with regulators around the world to influence and shape the future of the digital asset industry, its policies and to champion access for the ordinary investor.
ENDS
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About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 32 million registered users from more than 100 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center here for our latest news.
About FINRA
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry—brokerage firms doing business with the public in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.