by: Grow VC Group
Download PDF
image_pdfimage_print

Three full years have passed since the JOBS Act was signed. In this time, the Securities and Exchange Commission, SEC, has translated into rules only some of the Titles within it, for example TItle II and Title V, but has not acted yet on Title III, which should open online investing to retail investors. Now the SEC tells it will vote on the final rules regarding Title III of the JOBS Act in an open meeting on this Friday, October 30.

Six Congressional Democrats issued an open letter dated October 5 to SEC Chair Mary Jo White, begging the regulator to issue the long-overdue rules to implement crowdfunding under Title III. Additionally and most notably, the Financial Industry Regulatory Authority (FINRA) has released last week its proposed rules for online investing platforms under Title III of the JOBS Act.

FINRA proposes that online investing portals adopt some of its existing rules (i.e. rules 100, 110, 200,300, 800, 900 and 1200, collectively, the “Funding Portal Rules”), but also the newly introduced rule 4518.  With rule 4518, FINRA aims at keeping accurate track as to which of its registered broker members, if any, are engaging in activity in connection with Title III of the JOBS Act and thereby assist FINRA in carrying out its regulatory responsibilities.

If the SEC approves these proposed rules, FINRA will make them effective within 90 days. The document released by FINRA and the letter of the six Congressmen make think that SEC rules for Title III will be soon released. Furthermore SEC Chair Mary Jo White has recently been quoted to say that Title III rules will be forthcoming.

Read more on Crowd Valley Blog.

SEC HQ Washington D.C.


Learn More About Grow VC Group Companies

Crowd Valley, Startup Commons, Kapipal, Grow Advisors, TradeUp Fund, Deal Index, Crowdcitee, p2p Safety, Crowd Index Fund, Commoditarian

Join Our Team

We are always looking for talented, entrepreneurial and driven doers to join our growing global group of companies in various positions and locations around the world. If you think you have what it takes, apply now!


Other posts you may enjoy

About the author

Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

Tags: , , , ,

This entry was posted on Tuesday, October 27th, 2015 at 4:20 pm and is filed under Business Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.