27 Feb 2025
💳Marqeta Seeks Exemption from Investment Company Classification
Marqeta, Inc.
Summary
Marqeta, Inc. has filed an application with the SEC seeking an order to be declared primarily engaged in a business other than investing in securities, focusing on its technology-based payment card issuing platform. The firm argues its operations do not align with the definition of an investment company as outlined in the Investment Company Act of 1940.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document discusses Marqeta, Inc.'s application to be exempt from being classified as an investment company under the Investment Company Act, impacting regulatory compliance and potential operational strategies for financial firms. Compliance with this ruling is crucial for executives managing similar firms or in the financial technology sector.