The Securities and Exchange Commission has approved the FINRA crowdfunding portal rules and related forms. These new rules apply to portals that seek to operate under Title III of the JOBS Act and are not affiliated with a Broker – Dealer. They are effective as of January 29,2016. Prospective funding portals must file all forms electronically through FINRA’s Firm Gateway. Aspiring portals should complete these documents with the assistance of their legal counsel. The regulatory notice is embedded below.
The “Funding Portal Rules” are available on FINRA’s website. The related forms are available for reference in the Appendices.
The SEC rules were published in the Federal Register yesterday.
Title III platforms may direct their questions regarding the FINRA notice to the representatives below.
- Alissa Robinson, Director, Membership Application Program, at (212) 858-4764; or
- Adam Arkel, Associate General Counsel, Office of General Counsel, at (202) 728-6961.
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