JOBS Act

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In a nutshell – US AML regulation for Crowdfunding platforms

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, recently put out a news release with regard to its proposal to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” to include funding portals (see related post). FinCEN stated that its proposal seeks to ensure …

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FinCEN Proposes to Amend Definition of Broker-Dealer in Securities to Include Funding Portals

The Financial Crimes Enforcement Network (FinCEN) today proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” in order to ensure that funding portals implement policies and procedures reasonably designed to achieve compliance with the BSA requirements, including the filing of suspicious activity reports, currently applicable to brokers or dealers …

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SEC Adopts Rules to Permit Crowdfunding

The Securities and Exchange Commission today adopted final rules to permit companies to offer and sell securities through crowdfunding.  The Commission also voted to propose amendments to existing Securities Act rules to facilitate intrastate and regional securities offerings.  The new rules and proposed amendments are designed to assist smaller companies with capital formation and provide …

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