All: Regulatory Activity

Notice of Request for Additional Comments Regarding a Proposed NASAA Model Rule Exemption Certain Merger and Acquisition Brokers from State Registration

The North American Securities Administrators Association is requesting additional comments to its proposed uniform state model rule regarding the exemption of certain merger and acquisition brokers from registration as “brokers,” “dealers,” “agents,” and/or “broker-dealers” pursuant to state securities laws. The NASAA comment period is from April 16, 2015 to May 17, 2015. Download Notice of […]

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Washington Securities Divisions Issues Preproposal Statement of Inquiry

The Washington Securities Division is planning to propose rules to preserve filing requirements in connection with offerings of securities to be made under Tier 2 of the Securities and Exchange Commission’s newly adopted rules for Regulation A offerings. See below for details. Tier 2 Offerings Under Regulation A

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Notice of Request for Public Comment on a Proposed NASAA Model Rule Exempting Certain Merger and Acquisition Brokers from State Registration

The Broker-Dealer Section of the North American Securities Administrators Association (NASAA) is requesting comment for a proposed uniform state model rule regarding the exemption of certain merger and acquisition brokers from registration as “brokers,” “dealers,” “agents,” and/or “broker-dealers” pursuant to state securities laws. Download Background and Proposed NASAA Model Rule Exempting Certain Merger and Acquisition […]

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Public Comment Period Extended on Proposed IA Business Continuity and Succession Planning Model Rule and Guidance

The Board of Directors of the North American Securities Administrators Association, Inc. (NASAA) has extended the public comment period on a proposed model rule and guidance requiring investment advisers to create and implement written procedures to address business continuity and succession planning under the Uniform Securities Act of 1956 and under the Uniform Securities Act […]

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Notice of Request for Comment Regarding a Proposed Model Rule for the Electronic Filing of Form D and Other Securities Registration or Notice Filing Documents

The Electronic Filing Depository Committee of the North American Securities Administrators Association, Inc. (NASAA) is seeking comment on a proposed model rule to require the electronic filing of Form D and other state securities registration/notice filing materials. Download: EFD Model Rule Cover Memo and Rule Posted for Public Comment Comments are due on or before […]

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Notice of Request for Comment on Proposed Changes to Franchise Multi-Unit Commentary

NASAA’s Franchise and Business Opportunity Project Group (the “Franchise Project Group”) is re-releasing for public comment additional revisions to NASAA’s proposed Franchise Multi-Unit Commentary (the “Multi-Unit Commentary”). The 14-day public comment period is from June 16 to June 30, 2014. Accordingly, all comments should be submitted on or before June 30, 2014 by email or […]

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Notice of Request for Public Comment on Proposed Changes to Franchise Multi-Unit Commentary

NASAA’s Franchise and Business Opportunity Project Group (the “Franchise Project Group” or “Project Group”) is rereleasing for public comment proposed revisions to NASAA’s proposed Multi-Unit Commentary. The public comment period is from April 15 to May 16, 2014.  Accordingly, all comments should be submitted on or before May 16, 2014 by email or in writing […]

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Amendments to Federal Regulation D by Washington State Under Consideration

The Washington State Securities Division is considering proposing to amend WAC 460-44A to make ministerial updates to account for amendments to federal Regulation D.  The relevant files are below. CR-101 – Interested Persons Correspondence (pdf) WSR 14-02-126 (pdf)  

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Maryland Order Extends Use of Maryland Limited Offering Exemption to LLCs, Others

On October 25, 2013, the Maryland Securities Division issued an order extending the use of the Maryland Limited Offering Exemption to LLCs and other entities. The order, which has additional detail, is available on the the division’s website, here.

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Notice of Request for Public Comment: Proposed Coordinated Review Program for Section 3(b)(2) Offerings

October 30, 2013 — The Board of Directors of the North American Securities Administrators Association, Inc. (NASAA) has authorized release for public comment the accompanying materials regarding a new proposed coordinated review program for offerings exempt from registration federally under Section 3(b)(2) of the Securities Act of 1933. Section 3(b)(2) of the Securities Act of […]

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