As a new lender to Prosper Marketplace, Inc, as part of my due diligence, I contacted the North American Securities Adminstrators Association. "In the United States, NASAA is the voice of state securities agencies responsible for efficient capital formation and grass-roots investor protection. Their fundamental mission is protecting consumers who purchase securities or investment advice, and their jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public." They have no record of Prosper Marketplace Inc. They said that any company that is making loans has to be registered and have a license number. I then called Prosper, and asked for their license number. Customer service gave me a license number, but didn't know what name it is registered under. When I called the NASAA back, they said that the license number I provided belongs to a company called CircleOne, and that if CircleOne is doing business under another name, such as Prosper, that name must be registered. As it stands the NASAA has no connection between the license number given to me and the company called Prosper Marketplace Inc. After doing a search in this forum I found out that Prosper was called CircleOne before it went public, but that still doesn't explain why the NASAA has no record of Prosper or anything to link it to CircleOne. To further complicate things, the address given for CircleOne Holdings, Inc is 153 Kearney Street, Mezzanine, San Francisco, CA. The only problem is that there is no street with that spelling in San Francisco. This is the address that the NASAA has for CircleOne, and I also found the address linked to CircleOne in a application for a Consumer Finance License in Virgina. I can't imagine that I'm the first person to look into this, but I can't seem to find the answers while searching the forum. Does anyone have any information concerning these matters?

There is a street called "Kearny" in SF. Probably just a simple misspelling in the address.

AJ

NASAA has no regulatory authority. It is not the SEC or the NASD.

It is simply a voluntary association of security regulatory agencies.

Prosper posts their state license numbers on the web site.

Do you want to try again?

I know it's no secret on the Lender Forum that Prosper had it's origin as CircleOne; I've seen several old postings referring to CircleOne the previous incarnation Prosper.

I don't know anything beyond that.

Yep Kearny is well known. By the way, Prosper just moved a short distance. New address.

NASAA is just a club. Not a government agency.

I did a zip+4 lookup at www.usps.com and the hit with MEZZANINE in it was:

153 KEARNY ST STE MEZ
SAN FRANCISCO CA 94108-4808

Likewise, Yahoo Maps had no problems. (map)

Well, ok, Kearney vs. Kearny. The spelling difference between what you were given and what the USPS and Yahoo Maps have could very well be a typing error on anyone's part.

When we have had two dozen ways that McMinnville was spelled in our address database at the community college, an extra "e" in a street name doesn't bother me. We also had about a dozen different spellings of Lancaster, and that is the street where the main campus is located! (McMinnville is just one of the reasons why we ended up buying address correction software for our administrative systems.)

Prosper went public? When? What's their symbol? Are you sure? :o

Presumably by "went public" he means "opened their service to the general public."

Maybe, but when one talks about "going public" and the Securities and Exchange Commission in the same breath, it has a specific meaning.

It wasn't until deeper reading that I see that we are talking about neither the SEC nor "going public".

Do you live in Salem, Mark? I work in Salem - right off Lancaster.

LOL Foxe ...

I used to live on that street!

Whats up with the first post being a slam on Prosper?

Penelope

yawn.

Ok, I understand that the NASAA doesn't have jurisdiction, and that Prosper is licensed to lend in the individual states where it does business, and that Kearny is a real street. My question is, does the SEC (or any other national agency for that matter) have jurisdiction, and if so, has anyone checked to see if Prosper is registered with them?

FOXE please spare us all ... and do some research ...

Yeah YAWN ...


think he is related to a Bama?

Who cares? Embrace the free market.

:ph34r: Let's just party 'til the cops come! :lol: :P

Hey, the beautiful thing about being the first to arrive at the party is that you've had the most fun when the cops finally come.

The forum likely holds enough talent to fend off even the likes of the SEC... if such was necessary.

-t

Thousands of members, from all over the country, and the most intelligent answer I get is from an Eagles Fan....perfect. I already know your can sustain disapointment after disapointment and still hope that next time will be different. Are there any Dallas Fans in the house, I would like to ask a winner?

You aint havin fun till they dial 911. Just a thought from a lurker. :D

Impressive. You've apparently done more research on Prosper than I did on my wife before we got married :)

Seriously though, there's a point on the information curve where more data isn't really helpful, and can sometimes actually be detrimental. That's especially true with ventures relatively new and unique, as is Prosper.

Good Luck



Off topic- regarding Dallas, are you referring to the Stars, Mavericks, or Cowboys? Reason I ask...I think it's been over 10 years since the Cowboys won a playoff game.

Alan's sockpuppet. Notice the writing style and several turns of phrase.

I believe the term used is, "going live" with regard to websites.

Going public is an entirely different (and juicier) matter.

I also don't think Prosper would be so dumb to market itself as shown here http://www.prosper.com/public/about/media_news.aspx with their registrations and licenses not in order.

Wrong.

I only post with this name.

Wall of text crits you for 100056879546321.

You die and lose 10% durability.