Regulatory Alerts2014-01-23 | 2013-30508Added
Proposed Rule Amendments for Small and Additional Issues Exemptions Under Section 3(b) of the Securities Act
The Securities and Exchange Commission proposes rule amendments to Regulation A to implement Section 401 of the JOBS Act, which mandates an exemption for offerings of up to $50 million annually. The proposed rules establish two tiers of offerings with specific issuer eligibility, disclosure, and ongoing reporting requirements, including mandatory electronic filings and audited financial statements for larger offerings. These changes aim to modernize the exemption framework to facilitate capital formation for small businesses while maintaining investor protection through continuous disclosure obligations.
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