(a) Policies and procedures. A funding portal must implement written policies and procedures reasonably designed to achieve compliance with the federal securities laws and the rules and regulations thereunder relating to its business as a funding portal.
(b) Privacy. A funding portal must comply with the requirements of part 248 of this chapter as they apply to brokers.
(c) Inspections and examinations. A funding portal shall permit the examination and inspection of all of its business and business operations that relate to its activities as a funding portal, such as its premises, systems, platforms, and records by representatives of the Commission and of the registered national securities association of which it is a member.
authority: 15 U.S.C. 77d,
77d,
77s,
77z,
78c,
78o,
78q,
78w,
78mm,
and. L. 112-106, secs. 301-305, 126 Stat. 306 (2012)
source: 80 FR 71537, Nov. 16, 2015, unless otherwise noted.
cite as: 17 CFR 227.403