Crowdfunding Now!

Today, FINRA issued the first official regulatory paperwork related to Crowdfunding: a voluntary, interim form that Cowdfunding portals can use to register with FINRA. If you are a portal helping people raise equity capital online, you must register with FINRA, so this gets the process started. An important move. According to FINRA, "Filing of this interim form will not entitle you to FINRA membership. We will make membership available to funding portals after the SEC adopts funding portal rules and approves FINRA's funding portal rules. Once funding portal rules are in place, FINRA will issue a final funding portal application that will be necessary for you to file to become a FINRA member. In applying for membership, you will not be bound by the responses you provided on this interim funding portal form."  To see the form, go to FINRA's website or go here:  https://docs.google.com/open?id=0Bx3S91AlzNJ4MElNb1pfYmktYjg

The Board authorized FINRA to issue an interim form to seek essential information from prospective funding portals intending to apply for membership with FINRA pursuant to the JOBS Act. Prospective funding portals would file the interim form with FINRA voluntarily until final SEC and FINRA rules governing funding portals are in place. FINRA will file the interim form with the SEC. http://www.finra.org/Industry/Regulation/Guidance/CommunicationstoFirms/P197425