Code of Federal Regulations · Section
§ 227.401 — Exemption
17 C.F.R. § 227.401
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A funding portal that is registered with the Commission pursuant to § 227.400 is exempt from the broker registration requirements of section 15(a)(1) of the Exchange Act (15 U.S.C. 78o(a)(1)) in connection with its activities as a funding portal.
Authorizing Statute
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Registration and regulation of brokers and dealers15 U.S.C. § 78o
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Exempted transactions15 U.S.C. § 77d