DENVER, COLORADO – GUARDD, a cloud-based financial data platform that hosts private company disclosures, announced the official launch of its service, which is designed to support secondary market trading for private company securities, including digital assets/tokens to facilitate compliance with both federal transparency requirements and state blue sky laws.
• Solution integrates with RIVIO Clearinghouse, a private company financial data exchange service by CPA.com, an AICPA company.
• GUARDD disclosure data to be published by Mergent, Inc., Mergent is a global provider of business and financial data and tools covering both public and private entities.
GUARDD facilitates the disclosure and dissemination of private company information for investors, regulators and market participants – and it’s free for regulators, investors and the public at large. Companies pay an annual subscription and agree to provide market-appropriate, ongoing disclosure about their business, relevant investment considerations and audited financials to be included in GUARDD’s published reports.
GUARDD’s platform collects, stores and reports over 100 data points on each issuer. This data is published online as a readable downloadable report. Supporting documents, such as audited financial statements provided through RIVIO Clearinghouse, are also available for download. A sample report can be found here.
“Before today, there was no readily available resource nor easy way to comply with federal and state financial disclosure requirements related to trading of private company securities in secondary markets,” said GUARDD CEO Sherwood Neiss. “By partnering with RIVIO and Mergent, we’ve created an ecosystem of disclosure information that balances the interests of investors, companies and regulators. It is critical that information underpinning corporate disclosure has integrity and transparency so a credible secondary market can evolve.”
As mentioned above, GUARDD has entered into agreements with two partners:
RIVIO, a private company financial exchange developed by of CPA.com, a subsidiary of the American Institute of Certified Public Accountants (AICPA), RIVIO is an online platform designed to meet the need for accurate, source-verified information and facilitates communication among three distinct users – CPA firms, private businesses and third parties. Under its agreement with RIVIO, GUARDD users will have access to secure and authenticated audited financial statements, which are protected from alteration and are confirmed as coming from a validly licensed CPA firm.
“The GUARDD/RIVIO relationship addresses the need for authenticated private company data to be more accessible to key stakeholders, increasing transparency,” said Kalil Merhib, vice president of sales for CPA.com. “Our goal with RIVIO is to increase security, collaboration and standardization in the delivery of private company financial statements and other sensitive documents, and this supports that mission.”
Mergent, publishers of MERGENT INDUSTRIAL and INTERNATIONAL Manuals and News Reports™. The agreement will permit GUARDD to publish company profiles that qualify under Mergent’s inclusion criteria through the Mergent platform and benefit from Mergent Manuals and News Report’s™ status as a “recognized securities manual” in 40 states for purposes of Blue Sky Manual Exemption.
“Blue Sky compliance is critical for companies wishing to foster transactions in their securities,” says Tom Wecera of Mergent. “By incorporating GUARDD companies as part of our manual we help them comply in a more efficient manner.”
For more information, please visit guardd.com.