I am on a budget setting up my license crowd Funding portal with the FINRA/ SEC. I have completed everything and just need to send me finger print. is there a checklist for the thing i need to do so i can do everything properly and know my roadmap. also is it hard to change the name of the Entity i want to add Capital at the end of the name?
"I'm on a budget setting up my license crowd Funding portal with the FINRA/ SEC."
It cost about $2M to set up a Crowdfunding Portal. I know that sticker price often shocks people so checkout this spreadsheet that doesn't make it any easier to accept but breaks down the expenses so you can see what you're about to jump into: https://drive.google.com/file/d/18T_lZzKby-SYwSOBOTYYxUebUlhipvAW/view?usp=sharing
"Is there a checklist" - Yes and no. Yes, if someone has gone through the process and will share with you. No, if you haven't. But the SEC gives you pretty good guidance. You can see the SEC guidance here: https://www.finra.org/registration-exams-ce/funding-portals/register-new
"...also is it hard to change the name of the Entity i want to add Capital at the end of the name?" 100% hard. I encourage you to full stop and retain counsel to assist you in this effort. Sara Hanks, Jenny Kassan or Maureen Murat can assist you with this. Maureen recently shared with me how she assisted a portal with changing their name and organizational structure. So, definately recommend getting a securities lawyer who has worked with FINRA before to assist you on this.
"I'm on a budget setting up my license crowd Funding portal with the FINRA/ SEC."
It cost about $2M to set up a Crowdfunding Portal. I know that sticker price often shocks people so checkout this spreadsheet that doesn't make it any easier to accept but breaks down the expenses so you can see what you're about to jump into: https://drive.google.com/file/d/18T_lZzKby-SYwSOBOTYYxUebUlhipvAW/view?usp=sharing
"Is there a checklist" - Yes and no. Yes, if someone has gone through the process and will share with you. No, if you haven't. But the SEC gives you pretty good guidance. You can see the SEC guidance here: https://www.finra.org/registration-exams-ce/funding-portals/register-new
"...also is it hard to change the name of the Entity i want to add Capital at the end of the name?" 100% hard. I encourage you to full stop and retain counsel to assist you in this effort. Sara Hanks, Jenny Kassan or Maureen Murat can assist you with this. Maureen recently shared with me how she assisted a portal with changing their name and organizational structure. So, definately recommend getting a securities lawyer who has worked with FINRA before to assist you on this.