The Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 12-34 (Regulatory Notice) seeking comments on proposed regulation of Crowdfunding Activities by FINRA member firms. The comments requested are directly related to recently passed legislation, The Jumpstart Our Business Startups Act (JOBS Act). The JOBS Act focused on increasing American job creation and economic growth, relying in part on provisions relating to securities offered or sold through crowdfunding. To that end, 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.
As the primary focus of The LeGaye Law Firm PC is the representation of professionals in the securities industry with respect to regulatory compliance and securities law matters, we respectfully offer the comments set forth below in response to the Regulatory Notice. The opinions expressed herein are our own and do not necessarily reflect the opinions of any of our clients.
View FINRA Regulatory Notice 12-34