Virginia Securities Division Issues Order to Take Notice SEC-2016-00051 – Adopting a Revision to the Rules Governing the Virginia Securities Act

The proposed amendment to Chapter 45 by adding Section 30 (21 VAC 5-45-30) provides for a notice filing for securities issuers that are using federal Regulation A for offerings up to $50 million in a 12-month period. This amendment will allow Virginia to monitor these offerings. The proposed notice filing exemption follows a uniform exemption developed by the North American Securities Administrators Association, Inc. (NASAA) , to use for these notice filings. NASAA developed the model rule in large part due to a rule recently implemented in the state of Washington.

Interested parties may request a copy of the proposed revisions from the Division by telephone, regular mail or e-mail request, and a copy of the proposed revisions also can be found on the Division’s website, here.

Any comments to the proposed rules must be received by December 1, 2016.



Regulatory Activity, State Rule Proposals