August 4, 2016
Is this against the rules to deny access to a funding portal for a business to crowdfund just because you want to and not having a real reason to do so?
Denying Access to the Platform
Rule 402(b)(10) permits a funding portal to deny access to its platform to, or cancel an offering of, an issuer that the funding portal believes may present the potential for fraud or otherwise raises investor protection concerns. The Rule is consistent with Rule 301(c)(2), which requires an intermediary to deny access if it has a reasonable basis for believing that the issuer or the offering presents the potential for fraud or otherwise raises concerns about investor protection.
OR can a funding portal choose who it lets on there site to crowdfund for a business?
Can someone please answer, thanks?