950 CMR, § 12.206 - Funding Portal Notice Filing

(1) Definition. Funding Portal shall have the same meaning as defined in the Securities Exchange Act of 1934, § 3(a)(80).

(2) Conditions for Notice Filing by Funding Portals. Each notice filer shall:

(a) Have a principal place of business in the Commonwealth; and

(b) Be a Funding Portal Member of a national securities association registered under the Securities Exchange Act of 1934, § 15A.

(3) Notice Filing Procedures for Funding Portals. Notice for a Funding Portal in the Commonwealth shall be made by promptly filing with the Division a copy of the Form Funding Portal (FP) as filed with the SEC.

(4) Amendments. Each notice filer shall promptly notify the Division of any amendments made to Form Funding Portal (FP) as filed with the SEC by filing a copy of such amendment with the Division.

(5) Withdrawals by Funding Portals.

(a) Funding Portals withdrawing from Funding Portal Membership of a national securities association registered under the Securities Exchange Act of 1934, § 15A and SEC registration shall file with the Division a copy of the Form Funding Portal (FP) as filed with the SEC.

(b) Funding Portals no longer with a principal place of business in Massachusetts shall provide the Division with written notice of such fact.

(6) Enforcement Date. 950 CMR 12.206 shall be enforced as of June 1, 2019.

Notes

950 CMR, § 12.206

Adopted by Mass Register Issue 1387, eff. 3/22/2019. Amended by Mass Register Issue 1393, eff. 6/14/2019. Amended by Mass Register Issue 1412, eff. 3/6/2020.