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Dave Lauer Profile picture
@dlauer
Jul 29, 2022 • 13 tweets • 4 min read • Read on X
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We're about to cross 1,600 investors in our company through crowdfunding. It's such a unique way to fund a company, and I love giving everyone the chance to get in on the ground floor - it's usually only available to institutions/HNW.

Join us if you can: wefunder.com/urvinfinance
Our company will give individual investors access to unprecedented data and tools, and our data native social platform will change how research/DD is created, collaborated on, and shared. We're also proud to be helping #WeTheInvestors get off the ground & change market structure!
This funding round is different from the last - we're selling actual shares in our co. It's a priced round, you will own equity in the company. Our pre-seed investors also convert to shareholders after this round. If you want to own a piece, invest here: wefunder.com/urvinfinance
Even if you can't invest, please retweet and share with others to help spread the word. Every bit counts! Our company exists because of the community that supports us, and we're so thankful to have that support. We try to earn it every day.
We've gotten such awesome comments of support in this round too.
Leni believes in leveling the playing field
Todd recognizes how Urvin is different from many of the other companies in this industry.
Matt agrees with our mission of focusing on both data and education
Heather believes in market transparency
I love Matthew's comment here - this is exactly why we're doing this.
Rui's idea of a retail-regulated market in contrast to the current system of self-regulation is great. We want to make sure retail's voice is heard, and not misrepresented by firms that productize their customers.
LOL won't argue with this one.
We're with you Ben. Power to the players.

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More from @dlauer

Dave Lauer Profile picture
Sep 12, 2023
Today @GaryGensler will be testifying before the Senate Banking Committee at 10am ET. You can watch the livestream here:

His written testimony is here:

The testimony is written at a very high level, but gives a good overview of the full scope of the SEC's activities and current agenda. I'd encourage everyone to take a look - and importantly the equity market structure reforms that we care so much about are the first agenda items addressed.banking.senate.gov/hearings/09/06…
banking.senate.gov/imo/media/doc/…
@GaryGensler First question from Sen Crapo is about MMTLP - he is asking whether the SEC is reviewing the trading halt, and whether the SEC will release the results of the investigation.

Gensler answers that FINRA rules govern this issue, and that the SEC was not involved.
@GaryGensler Crapo asks whether MMTLP situation has been analyzed for naked shorting, fraud or wrongdoing. Will blue sheets be released or a share count?

Gensler: We cannot comment on ongoing investigations. I will follow-up with staff about these data requests.
Read 16 tweets
Dave Lauer Profile picture
Dec 20, 2022
This is my shocked face. We said exactly this to the SEC in our June meeting, because it was admitted by a big wholesaler on CNBC. Image
So... maybe... I dunno... eliminate rebates and PFOF? Image
Turns out, when wholesalers execute orders at a price worse than the midpoint, 75% of the time there's midpoint liquidity on-exchange. Now start routing orders there and reduce adverse selection, and that number will go up significantly. Image
Read 6 tweets
Dave Lauer Profile picture
Dec 14, 2022
Open Meeting has just moved on to the new equity market structure reforms, starting with Rule 605.
Big changes to Rule 605 will provide far more transparency on execution quality by broker and market center. This update is first in over 20 years and long overdue.

First - it's extended to brokers with > 100k customer accounts (retail brokers).
Second, 605 reports will be dis-aggregated to produce separate reports for various types of orders, such as retail, institutional, retail auctions, and odd lots.

Third, standardized human readable summary reports will be required - excellent addition.
Read 16 tweets
Dave Lauer Profile picture
Dec 14, 2022
SEC open meeting getting ready to begin here:
sec.gov/news/upcoming-…

🧵A high-level thread with our initial view of the proposed rules, which are split into four proposals.
1. Changes to Rule 605 that will modernize execution quality disclosures and extend those disclosures to retail brokers.
This means brokers will finally have to publish standardized execution quality metrics that we can use to compare how good of a job they’re doing at executing orders, and what kind of execution quality they’re getting from their counterparties.
Read 14 tweets
Dave Lauer Profile picture
Dec 14, 2022
Today the SEC proposed the most significant changes to US market structure since Regulation NMS was passed, in 2005. These proposals incorporate many of the ideas that we - #WeTheInvestors - presented to the SEC earlier and repeatedly this year.
#WeTheInvestors have had a significant impact on the SEC’s actions - through our dialogue, our proposals, and our presence. These rule proposals are the culmination of those efforts.
But these proposals are only the beginning. Over the coming weeks, We The Investors plans to take seven action steps:
1. Read more than 1,600 pages of rule proposals. Yikes!
Read 13 tweets
Dave Lauer Profile picture
Dec 13, 2022
It's going to be quite a day today! SDNY will unseal their indictment and the FTX hearing in the House will be even more interesting now. SEC has also charged SBF with securities law violations, complaint here: sec.gov/litigation/com…
The SEC complaint doesn't tell us much we didn't already know, but really lays it out simply. He diverted customer funds, Alameda had unlimited credit lines against customer funds and when Alameda couldn't satisfy their loans they raided more customer funds.
Nice use of scare quotes there SEC - it's not a loan if you have no intention of paying it back. Now, the ponzi scheme part of all of this is that maybe he thought he could pay it back with more customer funds, but doesn't much matter. Lotta fraud here, everywhere you look.
Read 7 tweets

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