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FINRA Hints at Imminent Release of Title III Crowdfunding Rules


Hot off the heels of Wednesday’s exciting news, FINRA posted the following in the summary to yesterday’s board meeting:

The Board authorized FINRA to publish a Regulatory Notice to solicit comment on proposed rules and related forms governing funding portals pursuant to Title III of the JOBS Act. The proposed rules address among other things the membership application process for funding portals, fraud and manipulation, just and equitable principles of trade, communications with the public, supervision and anti-money laundering. FINRA expects to publish the Notice when the SEC releases its proposed rules pursuant to Title III of the JOBS Act for comment.
It looks like they already have the rules drafted and are waiting for simultaneous release with SEC proposed rules.  The next FINRA board meeting is September 19, 2013 so it could be that they needed authorization to release the Notice in the event the SEC rules are released before the next board meeting.
Is September 19, 2013 an outside date we can look to for the Title III regulations?


This post was written by James Han on July 12, 2013

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