Regulatory Alerts2006-08-02
Private Offerings Exemptions
The Louisiana Department of Economic Development, Office of Financial Institutions, has promulgated Chapter 7 to establish state safe-harbor exemptions for private securities offerings that align with federal Securities Act of 1933 regulations. These rules exempt qualifying transactions from state registration provided issuers comply with specific conditions, including restrictions on general solicitation, Form D filing requirements, purchaser suitability standards for non-accredited investors, and disqualification criteria for certain parties. The exemptions remain available alongside other state provisions and take effect upon publication in the Louisiana Register, ensuring technical compliance does not automatically trigger registration evasion.