“FINRA is committed to ensuring that the capital
-raising objectives of the JOBS Act are advanced in a manner consistent with Congressionalintent and investor protection. Crowdfunding portals that file this formwill provide FINRA with important information regarding portal
business models, which will inform our rulemaking,” said Thomas
Selman, Executive Vice President, Regulatory Policy.The Interim Form asks prospective funding portals to provideinformation including:
business model and relationships.FINRA is also asking prospective funding portals to supplement theinformation in the interim form with any additional information ordocuments that they believe would be helpful. FINRA will treatinformation that prospective portals file on the interim form asconfidential.Last year, FINRA solicitedcomments on the specific rules it should
adopt for registered funding portals that become FINRA members.FINRA has also asked for comment on the application of existing rulesto broker-dealers engaging in crowdfunding activities.FINRA is the largest non-governmental regulator for all securities firmsdoing business in the United States. FINRA is dedicated to investorprotection and market integrity through effective and efficient regulationand complementary compliance and technology-based services.