Crowdfunding Portals OpenBy
The SEC’s “funding portal” registration program opened for business on May 16, 2016, and those portals became eligible to act as crowdfunding intermediaries 30 days after their registration was submitted. This crowdfunding access program was created by the Jumpstart Our Business Startups (JOBS) Act, a law meant to fuel funding of small businesses through eased securities regulations. The portals will link buyers to small businesses seeking to sell their stock. SEC Chair Mary Jo White said in May, “We are pleased to see that a number of companies have already filed their Forms C for offerings—17 companies on the first day and we are now up to 27. Nine funding portals have completed the registration process with the Commission and FINRA and more are in process.” To get in contact with a portal, search the EDGAR system for any funding portal that has an effective registration with the Commission.