### Question
How is the term funding portal defined?


### Answer
The term **funding portal** is defined in *15 U.S.C. § 78c* as the following:

> any person acting as an intermediary in a transaction involving the offer or sale of securities for the account of others, solely pursuant to section 4(6) [1](#78c_1_target) of the Securities Act of 1933 (15 U.S.C. 77d(6)), that does not—


(A) offer investment advice or recommendations

#### Citation:
  - *15 U.S.C. § 78c*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

