Regulation D / CF
SEC filing
Licensed brokers
FINRA registration
Asset independent custody
SPV custody
On-chain verification of holdings
On-chain transparency
Compliance issuance platform
Republic operation
Regulatory Framework
Introduction
Tovest PreIPO's assets are provided by PreStocks, whose underlying stock assets are provided by Republic. Republic's subsidiary, OpenDeal Broker LLC, is regulated by both the US SEC and FINRA, placing it on par with traditional financial institutions like Goldman Sachs and Morgan Stanley.
Exemption clause
PreStocks is registered in Singapore and relies on Regulation S exemptions under the US Securities Act, allowing it to issue securities to non-US citizens without a limit on the number of investors.
Platform restrictions
The platform strictly prohibits US users from participating to comply with offshore exemption requirements.