Title III of the Jumpstart Our Business Startups (JOBS) Act, enacted in 2012, contains key provisions relating to securities offered or sold through crowdfunding.
This page provides information and resources for crowdfunding intermediaries that, pursuant to Title III of the JOBS Act, the SEC's Regulation Crowdfunding and FINRA's rules for funding portals, register with the SEC as funding portals and become funding portal members of FINRA.
Funding Portal members are subject to FINRA regulatory oversight and reporting requirements.
Update a Funding Portal's Registration
If your firm has a change of ownership or control as set forth in Funding Portal Rule 110(a)(4), you must notify FINRA of those changes by filing a continuing membership application for funding portals, known as Form Funding Portal - Continuing Membership Application, located in the Funding Portal Gateway.
Withdraw a Funding Portal's Registration
To withdraw your funding portal's registration with FINRA, you must update your Form Funding Portal through the SEC's EDGAR system. On your Form Funding Portal, check the box that indicates this is “a withdrawal of the funding portal’s registration with the SEC.” Withdrawing your registration with the SEC will trigger a request of withdrawal of your firm’s registration with FINRA.
Annual Gross Income Assessment
Every year, funding portals must complete the Form Funding Portal - Statement of Revenue and pay Gross Income Assessment (GIA).
FINRA Funding Portal Registration Depository™ (FPRD®)
FINRA created and operates the FINRA Funding Portal Registration DepositoryTM online electronic filing system to track funding portal registrations and information.
Funding Portals We Regulate
FINRA maintains a list of firms that are registered with the SEC as funding portals and are funding portal members of FINRA.
FINRA's Office of General Counsel (OGC) staff provides broker-dealers, attorneys, registered representatives, investors and other interested parties with interpretative guidance relating to FINRA’s rules. Please see FINRA OGC Interpretative Guidance for more information.
OGC staff contact:
1735 K Street, NW
Washington, DC 20006
FINRA Funding Portal Rule 100
FINRA Funding Portal Rule 110
Funding Portal Application
FINRA Funding Portal Rule 200
Funding Portal Conduct
FINRA Funding Portal Rule 300
Funding Portal Compliance
FINRA Funding Portal Rule 800
Investigations and Sanctions
FINRA Funding Portal Rule 900
Code of Procedure
FINRA Funding Portal Rule 1200
Arbitration and Mediation
Phone-In Workshop Recording
Original Program Date: Monday, July 10, 2017
The SEC’s Regulation Crowdfunding went into full effect in May 2016. During this 60-minute phone-in workshop recorded in July 2017, FINRA and SEC staff answered frequently asked questions from funding portal members and others about Regulation Crowdfunding and FINRA’s Funding Portal Rules. During the call, staff from FINRA and the SEC also provided a brief overview of the rules, discussed recent updates and answered audience questions submitted in advance.