Merriman Holdings Subsidiary Suspends Securities Business

SAN FRANCISCO - July 28, 2016 - Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that FINRA has suspended its securities business due to an ongoing dispute over accounting for net capital.  

Merriman Capital has been in disagreement with FINRA's treatment of certain securities held for net capital purposes since August 2015. On July 25, 2016, FINRA's hearing officers issued a written ruling in favor of FINRA's interpretation and suspended the firm from executing its securities business. On July 27, 2016, Merriman Capital filed a Broker Dealer Withdrawal with the SEC to begin the process of terminating its licenses.  Substantially all of Merriman Holdings revenues are derived from Merriman Capital.  Merriman Holdings is evaluating the possibility of transferring operations which do not require FINRA licensing to Merriman Holdings.  There can be no assurance that this will be possible.  Merriman Holdings is also evaluating possible strategic alternatives.  

"I'd like to thank our extremely loyal brokerage employees, board members and advisors, past and present, who worked so hard to build and sustain our business during a difficult time for small brokerage firms," commented Jon Merriman. "As a team, we all worked through various issues, both personal and business related, in order to help our entrepreneurial clients grow their businesses and create great jobs. We punched as long and as hard as we could in a highly regulated, declining commissions environment. I have been truly blessed in working with such loyal partners at Merriman Capital, and am blessed to have such an extraordinary group of clients and friends."

About Merriman Capital, Inc.
Merriman Capital, Inc. ("MC") is a full service investment bank and broker-dealer providing comprehensive advisory, fund raising and M&A services for fast growing public and private companies, and equity and options executions services to sophisticated investors. Founded in 2002, Merriman has completed over 500 capital market advisory assignments and equity related financings for public and private companies. The firm is a leader in providing entrepreneurial, independent investment banking teams with a compliant, flexible and highly collegial network, the Financial Entrepreneur Platform ("FEP"). Merriman Capital also facilitates capital formation through its proprietary digital network (http://www.digitalcapitalnetwork.com - the "DCN"), a private placement marketplace that enables highly targeted, diligent and compliant execution of transactions primarily targeted toward Family Offices.
 
Merriman Capital, Inc. is the wholly owned brokerage subsidiary of Merriman Holdings, Inc. (MERR). The Digital Capital Network, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc.  All securities are offered through Merriman Capital, Inc., a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.
 
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2015. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 31, 2015, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com.  Please click on "Investor Relations."
 

 
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At Merriman:
Adriana Piltz
President
(646) 292-1424
[email protected]

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