Press Release – LOS ANGELES, May 10, 2016 – Equity funding portal StartEngine Capital LLC has been registered with the Securities Exchange Commission (SEC) and approved for membership by the Financial Industry Regulatory Authority (FINRA). StartEngine connects early-stage and growing companies seeking capital with investors seeking new investment opportunities. With this approval, StartEngine can operate as a funding portal for offerings under Regulation Crowdfunding and begin posting security offerings when Regulation Crowdfunding goes effective on May 16, 2016.
Regulation Crowdfunding was created pursuant to Title III of the Jumpstart Our Business Startups Act (known as the JOBS Act) of 2012 which established an exemption from the securities registration requirements of the Securities Act of 1933 for companies to raise up to $1 million within a 12-month period. These offerings must be conducted by a funding portal, like StartEngine, or broker-dealer that is registered with the SEC an…