Regulatory Notice 12-34

FINRA Requests Comment on Proposed Regulation of Crowdfunding Activities

Comment Period Expired: August 31, 2012

The Jumpstart Our Business Startups Act (JOBS Act)—a new law aimed at increasing American job creation and economic growth—contains key provisions relating to securities offered or sold through “crowdfunding.” Under the new law, intermediaries performing crowdfunding on behalf of issuers must register with the Securities and Exchange Commission (SEC) as a “funding portal” or broker and must register with an applicable self-regulatory organization (SRO). FINRA is soliciting public comment on the appropriate scope of FINRA rules that should apply to member firms engaging in crowdfunding activities, either as funding portals or as brokers.

Questions regarding this Notice should be directed to:

  • Gary L. Goldsholle, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8104; or
  • Adam H. Arkel, Associate General Counsel, OGC, at (202) 728-6961.
The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments: 
DateCommenterFormat - Size
7/15/2012Spaulding Group Inc.PDF - 65.84 KB
7/25/2012HamiltonClark Securities Co.PDF - 46.62 KB
7/29/2012Consulting for Compliance, LLCPDF - 33.94 KB
8/12/2012Kennedy Films & EntertainmentPDF - 32.14 KB
8/16/2012EarlySharesPDF - 295.95 KB
8/16/2012CommunityLeader, Inc.PDF - 210.03 KB
8/17/2012Taylor English Duma LLPPDF - 979.24 KB
8/18/2012T.W. KennedyPDF - 26.54 KB
8/21/2012Mike Liles, Jr.PDF - 171.99 KB
8/23/2012Integrated Management Solutions USA LLCPDF - 429.15 KB
8/28/2012Dole Capital, LLCPDF - 11.13 KB
8/30/2012Aidikoff, Uhl & BakhtiariPDF - 750.8 KB
8/30/2012RockethubPDF - 228.32 KB
9/1/2012North CapitalPDF - 102.53 KB
8/31/2012Whitley LLP Attorneys at LawPDF - 180.03 KB
8/31/2012The LeGaye Law Firm P.C.PDF - 1.39 MB
8/31/2012Gate Technologies, LLCPDF - 78.2 KB
8/31/2012Thurston, Springer, Miller, Herd & Titak, Inc.PDF - 58.87 KB
8/31/2012Ellenoff Grossman & Schole LLPPDF - 67.48 KB
8/31/2012National CrowdFunding AssociationPDF - 316.94 KB
8/31/2012Andrews Securities, LLCPDF - 79.28 KB
8/31/2012NASAAPDF - 1.61 MB
8/30/2012NSBAPDF - 240.52 KB
8/30/2012CFIRAPDF - 168.19 KB
8/31/2012IIBPDF - 244.27 KB
9/4/2012CFA InstitutePDF - 112.45 KB