The SEC has already missed its end-of-the-year deadline on laying down rules for so-called crowdfunding of new companies. But FINRA has jumped into the regulatory void, issuing a voluntary form for prospective funding portals.
Anyone who intends to launch such a portal -- which would offer equity in return for individual investments in start-up companies -- can voluntarily submit information to FINRA, which will help the regulator develop rules for crowdfunding portals, according to the authority.
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