FINRA’s Funding Portal Rules became effective on January 29, 2016, which aligns with the effective date of the SEC’s registration rules under Regulation Crowdfunding.
After receipt of the application:
- FINRA will conduct a preliminary review of the application,
- evaluate it against admission standards,
- ask for amendments if necessary,
- interview the applicant, and
- issues a decision (which may be appealed),
all within about 60 days.
The application fee is $2,700 and you must submit your fingerprints to be run by the FBI.