Proposed Amendment to the NASAA CR-Equity Statements of Policy

The Board of Directors of the North American Securities Administrators Association, Inc. (NASAA), has authorized release for public comment a proposal to update the following 11 NASAA CR-Equity statements of policy:

  • Statement of Policy Regarding Corporate Securities Definitions (1997/1999)
  • Statement of Policy Regarding Preferred Stock (1997)
  • Statement of Policy Regarding Loans and Other Material Transactions (1997)
  • Statement of Policy Regarding Unequal Voting Rights (1991)
  • Statement of Policy Regarding Specificity in Use of Proceeds (1997/1999)
  • Statement of Policy Regarding Promoters Equity Investment (1997)
  • Statement of Policy Regarding Promotional Shares (1997/1999)
  • Statement of Policy Regarding Options and Warrants (1997/1999)
  • Statement of Policy Regarding Unsound Financial Condition (1997/1999)
  • Statement of Policy Regarding Underwriting Expenses, Underwriter’s Warrants, Selling Expenses and Selling Security Holders (1997/1999)
  • Statement of Policy Regarding Impoundment of Proceeds (1997/1999)

The public comment period will remain open for 30 days.  Comments on the proposal are invited, and written comments should be sent to Bill Beatty, Chair of the Corporation Finance Policy Project Group.

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Issues & Advocacy, NASAA Proposals, Regulatory Activity, Request for Comment