The SEC approved FINRA's Funding Portal rules for entities that intend to function as funding portals in crowdfunded offerings made pursuant to Regulation Crowdfunding. We had previously posted a link to the rule text. Today, FINRA issued Regulatory Notice 16-06, which provides an overview of the new Funding Portal Rules. The Regulatory Notice can be accessed here: http://www.lexissecuritiesmosaic.com/gateway/finra/regulatory-notices/Regulatory-Notice-16-06.pdf.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Morrison & Foerster LLP. All rights reserved
