FINRA Issues Voluntary Interim Form for Equity Crowdfunding Portals
On January 10, 2013, FINRA (the Financial Regulatory Authority) issued a voluntary Interim Form for Funding Portals. Under the JOBS Act, once the SEC adopts its crowdfunding regulations and equity crowdfunding becomes legal in the United States, equity crowdfunding portals will be required to become members of FINRA. FINRA currently regulates broker-dealers.
In the meantime, FINRA is requesting confidential information from equity crowdfunding portals that it can use to help it develop the rules it will impose on portal members. Click here for the FINRA release and link to the form (We have identified that the following link is no longer active, and it has been removed).
Categories: Crowdfunding, Venture Capital/Funding
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Amanda J. Dernovshek
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