FINRA Funding Portal Rule 300 requires a supervisory system and written procedures reasonably designed to achieve compliance with applicable securities laws and Funding Portal Rules. The system must address associated-person oversight and designated supervisory responsibilities. Reviews, escalation, and records should reflect the portal's actual issuer onboarding, investor workflows, communications, and offering operations.

Rule 302 governs account opening, educational materials, investor acknowledgments, and related requirements. Rule 303 addresses the intermediary's reasonable basis for believing investors satisfy applicable investment limits. Controls should distinguish accredited and non-accredited investors and address required information and acknowledgments before accepting an investment commitment.

Rule 404 requires specified investor, issuer, communication, transaction, and compliance records to be retained for five years, with the first two years in an easily accessible place. Rule 403 subjects funding portals to specified privacy requirements, including Regulation S-P. Registration amendments and FINRA Rule 300 reporting obligations require processes for identifying and reporting relevant changes and events.

Regulation Crowdfunding Rule 400 requires SEC registration on Form Funding Portal and membership in a registered national securities association. The funding portal framework prohibits investment advice or recommendations, specified solicitation and compensation activities, and holding or handling investor funds or securities. Rule 402 provides conditional safe harbors for specified activities within those limits.

Rule 303 requires specified offering information to be available through the platform and communication channels that meet its conditions, including identification of compensated promoters. FINRA Funding Portal Rule 200 governs communications with the public, including prohibitions on misleading content. Platform content, issuer discussions, and portal promotions should reflect the applicable communication and recommendation restrictions.

Rule 301 requires intermediaries to take measures to reduce fraud risk, including specified background and regulatory checks on issuers and relevant control persons. The portal must have a reasonable basis for believing an issuer complies with applicable offering requirements and has established required ownership-record arrangements. Required denial of access depends on the rule's disqualification and fraud-risk standards.

Rule 303(e) requires a funding portal to direct investor funds to a qualified third party under an appropriate written agreement. Rule 304 separately governs cancellation rights, material-change reconfirmation, and offering completion. Release and return of funds should follow the applicable offering conditions and investor instructions; the portal may not hold or handle the funds itself.