FINRA issued on Thursday, January 10, 2013 a voluntary Interim Form for Funding Portals designed for prospective crowdfunding portals under the JOBS Act.
This is an effort for them to understand how these organizations are to be structured in comparison to a brokerage or other types of financial services companies. The information is supposed to be for information only and will affect the formal application form, which will come later after they finalize their discussions with the SEC.
They may be looking to see if existing or new crowdfunding sites are closed to compliance with the draft rules they already have in mind. I wonder how many of the existing sites and their entities are even close to what they are looking for?
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