§227.401. Exemption.
17 C.F.R. § 227.401
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.
Notes, amendments, and revision history
Authority
Authority: 15 U.S.C. 77d, 77d-1, 77s, 77z-3, 78c, 78o, 78q, 78w, 78mm, and Pub. L. 112-106, secs. 301-305, 126 Stat. 306 (2012).
Source
Source: 80 FR 71537, Nov. 16, 2015, unless otherwise noted.