Law Blog Tag: rule 147

Multiple Changes To Private Offering Compliance And Disclosure Interpretations (C&DI)

January 23, 2018 in C&DI, Regulation D, SEC

The SEC has been fine-tuning its Compliance and Disclosure Interpretations (C&DI), making multiple amendments, additions and deletions on September 20, 2017. The SEC made revisions to reflect changes to Rules 147 and 504, the repeal of Rule 505, as well as numerous non-substantive revisions throughout the C&DI to update for current rules and statutory references. Read the full article…

SEC Modernizes Intrastate Crowdfunding; Amending Rules 147 And 504; Creating New Rule 147A

On October 26, 2016, the SEC passed new rules to modernize intrastate and regional securities offerings. The final new rules amend Rule 147 to reform the rules and allow companies to continue to offer securities under Section 3(a)(11) of the Securities Act of 1933 (“Securities Act”). In addition, the SEC has created a new Rule Read the full article…

SEC Proposes Amendments Related To Intrastate And Regional Securities Offerings- Part II- Rules 504 And 505

SEC Proposes Amendments Related To Intrastate And Regional Securities Offerings- Part 1

SEC Advisory Committee On Small And Emerging Companies Recommends Modernizing Rule 147 for Intrastate Crowdfunding Offerings

Intrastate Crowdfunding Legislation Has Passed in Florida

SEC Issues Advertising Guidance Related to State-Specific Crowdfunding

Crowdfunding Using Intrastate Offerings and Rule 147 – Is Florida Next?

State Crowdfunding Using Intrastate Offerings and Rule 147

Securities Law Update: Intrastate Offerings Section 3(a)(11) and Rule 147 Examined

Section 3(a)(11) of the Securities Act of 1933, as amended (Securities Act) provides an exemption from the registration requirements of Section 5 of the Securities Act for “[A]ny security which is a part of an issue offered and sold only to persons resident within a single State or Territory, where the issuer of such security is a person resident and doing business within or, if a corporation, incorporated by and doing business within, such State or Territory.” (“Intrastate Exemption”) Rule 147 promulgated under the Securities Act provides for further application of the Intrastate Exemption.