Reg. A Roundup

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Publisher: Morrison Foerster
Author: Anna Pinedo
 

This week marks the three-month anniversary of the effective date of Regulation A.

Of course, given this limited experience, it may be premature to comment on market developments. Instead, below we summarize significant Reg. A developments.

Small Entity Compliance Guide

Immediately prior to the effective date, the Securities and Exchange Commission published this Small Entity Compliance Guide.  The guide provides a helpful overview of the regulation, the disclosure requirements and the subsequent reporting requirements.

Compliance and Disclosure Interps

Shortly following the effective date, the Staff of the Commission provided guidance on various aspects of the application of the regulation in the form of Compliance and Disclosure Interpretations, which are accessible here.

Investor Bulletin

In July, the Commission’s Office of Investor Education and Advocacy issued an Investor Bulletin that highlights the differences from an investor’s perspective between a Tier 1 and a Tier 2 offering, including the disclosure and ongoing reporting requirements and the investment limitation for Tier 2 offerings.

For full access to the roundup, please click here.

By : Securex /September 25, 2015 /Compliance /0 Comment