David Becker

SEC Charges New Jersey-Based ETF Manager for Fraudulent Conduct and Bars Founder

Retrieved on: 
Tuesday, August 1, 2023
Investment Advisers Act of 1940, Investment company, David Becker, Investment Company Act of 1940, Trustee, ETF, Censure, Masucci, Security (finance), Melissa, Bankruptcy, Financial adviser

Masucci and the entities agreed to pay a combined $4.4 million to settle the charges.

Key Points: 
  • Masucci and the entities agreed to pay a combined $4.4 million to settle the charges.
  • Masucci then knowingly failed to disclose this joint arrangement between him and his firm, the fund, and the broker-dealer to the fund’s Independent Trustees, instead telling them that the fund had no other viable options.
  • “Investment advisers cannot mislead clients or leverage client assets for their own benefit,” said Corey Schuster, Co-Chief of the SEC Enforcement Division’s Asset Management Unit.
  • ETFMG and the parent company agreed to censures, to a cease-and-desist order, and to pay, jointly and severally, a civil penalty of $4 million.

National Media Publications Recognize First Internet Bank Accounts as Best in Class

Retrieved on: 
Thursday, June 22, 2023
Professional Services, Small Business, Legal, Commercial Building & Real Estate, Construction & Property, REIT, Banking, First, CNET, Internet, David Becker, FDIC, American Banker, U.S. Bancorp, Online shopping, Bank, Investopedia

First Internet Bank announced today that two media outlets, Investopedia, a leading financial news and education source, and CNET, a technology-oriented review site, listed two of the bank’s accounts as leaders in their individual categories.

Key Points: 
  • First Internet Bank announced today that two media outlets, Investopedia, a leading financial news and education source, and CNET, a technology-oriented review site, listed two of the bank’s accounts as leaders in their individual categories.
  • Through its independent review process, Investopedia determined First Internet Bank’s high-yield Business Money Market Savings account was among the best for established businesses.
  • The account delivers a high interest rate, low minimum opening deposit and additional FDIC-insurance for larger deposit amounts.
  • For more information about First Internet Bank, visit firstib.com .

SEC Charges Silver Edge Financial and Equity Acquisition Company with Unregistered Broker-Dealer Activity Relating to Pre-IPO Funds

Retrieved on: 
Friday, March 3, 2023
David Becker, Associate, Order, Security (finance), Silver, EAC, Record, Book, IPO, Sale, Pre-IPO, Commission, Citadel LLC

Washington, D.C.--(Newsfile Corp. - March 3, 2023) - The Securities and Exchange Commission today charged Silver Edge Financial LLC, Equity Acquisition Company Ltd. (EAC), the owners of both companies, and sales staff of Silver Edge Financial with unregistered broker-dealer activity relating to their sales of interests in shares of various pre-IPO companies.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - March 3, 2023) - The Securities and Exchange Commission today charged Silver Edge Financial LLC, Equity Acquisition Company Ltd. (EAC), the owners of both companies, and sales staff of Silver Edge Financial with unregistered broker-dealer activity relating to their sales of interests in shares of various pre-IPO companies.
  • The Orders find that Silver Edge, Mackle, and the salespeople solicited accredited investors and raised more than $65 million while failing to register as brokers with the Commission, as required.
  • The SEC’s Orders find that Klein, EAC, Mackle, Silver Edge, and the six salespeople violated Section 15(a) of the Securities Exchange Act of 1934.
  • Silver Edge, Mackle, EAC, and Klein also agreed to undertakings that will help ensure the legal and orderly distribution of pre-IPO interests.

First Internet Bank Partners With Habitat for Humanity to Fund Affordable Housing Loans

Retrieved on: 
Wednesday, October 26, 2022
Construction & Property, Banking, Professional Services, Philanthropy, Fund Raising, Environmental, Social and Governance (ESG), Other Philanthropy, Foundation, Residential Building & Real Estate, U.S. Bancorp, Hope, Housing, Bank, David Becker, Workforce, Humanity, Partnership, Nasdaq, First, Treasury, CEO, SBA, FDIC, First Internet Bancorp, Hoosier, Management

As more Hoosiers struggle to find affordable housing, First Internet Bank and Greater Indy Habitat for Humanity announced an exclusive $16 million home loan purchase agreement to help the dream of homeownership become a reality.

Key Points: 
  • As more Hoosiers struggle to find affordable housing, First Internet Bank and Greater Indy Habitat for Humanity announced an exclusive $16 million home loan purchase agreement to help the dream of homeownership become a reality.
  • First Internet Bank and Greater Indy Habitat for Humanity commemorated the partnership today at a home build in metro Indianapolis.
  • First Internet Bank will provide warehouse funding for the home loans.
  • The Bank also offers commercial real estate loans, commercial and industrial loans and treasury management services.

Treasury Prime Announces Banking-as-a-Service Partnership with First Internet Bank

Retrieved on: 
Tuesday, October 18, 2022
SAN, API, U.S. Bancorp, Financial technology, CB Insights, Growth, VP, First Bank, Bank, David Becker, Bangor Savings Bank, Challenger, Treasury, FB, Partnership, Nasdaq, First, Science and technology in Asia, Small business, Internet, Tear sheet, Mobile backend as a service, SBA, FDIC, First Internet Bancorp, Zeta

SAN FRANCISCO and FISHERS, Ind., Oct. 18, 2022 /PRNewswire/ -- Treasury Prime, a leading Banking-as-a-Service (BaaS) company, today announced a formal agreement with First Internet Bank to make its award-winning embedded finance offerings available to more fintech and small business clients. The partnership continues Treasury Prime's efforts to build an industry-leading bank network, which now totals 15 financial institutions nationwide.

Key Points: 
  • The partnership continues Treasury Prime's efforts to build an industry-leading bank network, which now totals 15 financial institutions nationwide.
  • "By working together, First Internet Bank and Treasury Prime can help fintechs and enterprises deliver innovative accounts with debit cards and payments capabilities," said David Becker, Chairman and Chief Executive Officer at First Internet Bank.
  • The First Internet Bank news comes just days after Treasury Prime announced similar relationships with Bangor Savings Bank, FB Financial Corp (FirstBank) and Third Coast Bank.
  • First Internet Bank is a wholly owned subsidiary of First Internet Bancorp (Nasdaq: INBK).

SEC Charges Venture Capital Fund Adviser with Misleading Investors

Retrieved on: 
Friday, March 4, 2022
Regulation, Investment Advisers Act of 1940, Enforcement, Security (finance), U.S. Securities and Exchange Commission, LLC, SEC, AVG, Collins, David Becker, Financial adviser

Washington, D.C.--(Newsfile Corp. - March 4, 2022) - The Securities and Exchange Commission today charged venture capital fund adviser Alumni Ventures Group, LLC (AVG) with making misleading statements about its management fees and engaging in inter-fund transactions in breach of fund operating agreements.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - March 4, 2022) - The Securities and Exchange Commission today charged venture capital fund adviser Alumni Ventures Group, LLC (AVG) with making misleading statements about its management fees and engaging in inter-fund transactions in breach of fund operating agreements.
  • According to the order, AVGs typical practice was instead to assess management fees totaling 20 percent of an investors fund investment (representing ten years of two-percent annual management fees) upon the investors initial fund investment.
  • The order found that Collins approved of AVG employees using the industry standard 2 and 20 language and personally used it with fund investors and prospective investors.
  • Venture capital fund advisers, like all advisers to funds, must accurately describe their fees and abide by the funds agreements, said Adam S. Aderton, Co-Chief of the SEC Enforcement Divisions Asset Management Unit.

First Internet Bank Expands Banking as a Service Capabilities

Retrieved on: 
Tuesday, January 18, 2022
Legal, Technology, Construction & Property, Finance, Consulting, Banking, Other Technology, Professional Services, Small Business, Other Construction & Property, Entrepreneurship, Google Pay Send, CTO, Technology, Treasury, U.S. Bancorp, FDIC, SBA, CPO, Small business, First, First Internet Bancorp, David Becker, CEO, Bank, Solution, Â, Nasdaq, Ecosystem, Yodlee, Synclera, Internet, Partnership, Cryptocurrency, Online shopping, First Internet Bank, Synctera, FIRST INTERNET BANK, SYNCTERA

Today, First Internet Bank announced a formal agreement with Synctera , a leading consultant, technology platform and matchmaker for bank/fintech partnerships.

Key Points: 
  • Today, First Internet Bank announced a formal agreement with Synctera , a leading consultant, technology platform and matchmaker for bank/fintech partnerships.
  • The partnership provides First Internet Bank with new resources to expand its Banking as a Service offerings and build upon its rich history of innovation in the delivery of digital financial services and products.
  • Expanding our Banking as a Service capabilities furthers First Internet Banks position as a premier provider of banking solutions for small business owners and entrepreneurs, said David Becker, Chairman and Chief Executive Officer.
  • By providing foundational banking infrastructure, we are better able to support the phenomenal innovation fintech founders are bringing to market.

A-Rod Corp Hires Inner Circle Sports Executive David Becker as Chief Financial Officer

Retrieved on: 
Monday, September 27, 2021
Professional Services, Finance, NYU Langone Health, David Becker, Emory University, NYU, Pleasure, Business administration, Director, Sport, MLB, Board, Bachelor of Business Administration, Business, Timber Wolf, CEO, Acquisition, Major League Baseball All-Star Game, Associate, Minnesota Timberwolves, Technology, CFO, J. P. Morgan, Investment, Sports school, Industry, Trustee, Management

A-Rod Corp (AROD), the investment firm of entrepreneur and former MLB All-Star Alex Rodriguez, announced today the addition of David Becker as Chief Financial Officer.

Key Points: 
  • A-Rod Corp (AROD), the investment firm of entrepreneur and former MLB All-Star Alex Rodriguez, announced today the addition of David Becker as Chief Financial Officer.
  • David joins A-Rod Corp from Inner Circle Sports, where he spent over a decade executing on M&A advisory, capital raising, valuation, and restructuring in the global sports industry.
  • We had the pleasure of working with David and the excellent Inner Circle team during our acquisition of the Timberwolves and the Lynx this summer.
  • Prior to spending 10 years at Inner Circle, David worked in investment banking coverage at J.P. Morgan as an Analyst and an Associate, covering companies in the financial institutions and real estate sectors.