1. Regulations
  2. title 17
  3. chapter II
  4. part 227
  5. subpart D
  6. § 227.401

View all text of Subpart D [§ 227.400 - § 227.404]

§ 227.401 - Exemption.

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.

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: 80 FR 71537, Nov. 16, 2015, unless otherwise noted.

CITE AS: 17 CFR 227.401