{"data":{"id":"us/17-cfr-227.401","jurisdiction":"us","citation":"17 CFR 227.401","heading":"Exemption.","body":"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.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 227—REGULATION CROWDFUNDING, GENERAL RULES AND REGULATIONS","Subpart D—Funding Portal Regulation"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"813e596838657bfa136fb77de4c67f18c599764013a21c116b5d1b2418519eac","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-227.400","next":"us/17-cfr-227.402"},"notice":"GroundRules: Original legal text. Not legal advice."}