Regulatory
June 14, 2018
Request for Public Comments Regarding Proposed New State Cover Sheets to Franchise Disclosure Documents
June 14, 2018 The Corporation Finance Section of the North American Securities Administrators Association (NASAA) is seeking public comments on a proposal to revise the instructions in the NASAA Franchise Registration and Disclosure Guidelines for filing the state cover page to Franchise Disclosure Documents. Comments on the proposal are due by July 13, 2018. Download: […]
December 18, 2017
Request for Public Comments Regarding Proposed Revisions to NASAA Corporation Finance Statements of Policy
December 18, 2017 The Corporation Finance Section of the North American Securities Administrators Association, Inc. (NASAA) is seeking public comments on revisions to the following NASAA Corporation Finance Statements of Policy: Statement of Policy Regarding Corporate Securities Definitions Statement of Policy Regarding Loans and Other Material Transactions Statement of Policy Regarding Unsound Financial Condition Statement […]
July 25, 2017
Request for Public Comment Regarding a Proposed Model Rule Amendment to the Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers Model Rule to Include Investment Adviser Account Access Under the Uniform Securities Acts of 1956 and 2002
July 25, 2017 The North American Securities Administrators Association, Inc. (NASAA) is requesting public comment on a proposed model rule amendment to the NASAA model rule on Unethical Business Practices of Investment Advisers and Investment Adviser Representatives and Federal Covered Advisers to address investment advisers accessing client accounts with the client’s own unique identifying information […]
May 12, 2017
NASAA Members Adopt Financial Performance Representation Commentary for Franchises
Download: NASAA Financial Performance Representation Commentary The membership of the North American Securities Administrators Association (NASAA) on May 8, 2017 voted to adopt a Financial Performance Representation Commentary for franchises. The commentary supplements NASAA’s Commentary on the 2008 Franchise Registration and Disclosure Guidelines adopted on April 27, 2009. This NASAA Commentary addresses a number of questions […]
May 10, 2017
NASAA Members Vote to Adopt Statement of Policy Regarding Use of Electronic Offering Documents and Electronic Signatures
The membership of the North American Securities Administrators Association on May 8, 2017 voted to adopt a Statement of Policy regarding the Use of Electronic Offering Documents and Electronic Signatures. A copy of the adopted Statement of Policy is available here. Background As technology continues to progress and permeate through more aspects of the securities industry, […]
December 7, 2016
Request for Public Comment Regarding a Proposed Model Statute, a Proposed Model Rule, and a Proposed Solicitation of Interest Form to Permit Testing The Waters in Regulation A Tier 1 Offerings
December 7, 2016 NASAA is requesting public comment regarding a proposed model statute and a proposed model rule that would permit testing the waters in Tier 1 offerings conducted under federal Regulation A. In addition, public comment is requested on the accompanying Solicitation of Interest form that would be filed with state securities regulators prior […]
October 25, 2016
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 […]
October 4, 2016
Notice of Request for Public Comments on a Proposed Statement of Policy Regarding the Use of Electronic Offering Documents and Electronic Signatures
The Corporation Finance Section of the North American Securities Administrators Association (NASAA) is requesting public comment on a proposed Statement of Policy Regarding Use of Electronic Offering Documents and Electronic Signatures. This proposal is a second request for public comment following the feedback received from the Electronic Initiatives proposal released for public comment in May […]
September 13, 2016
Notice of Request for Comments Regarding a Proposed Franchise Commentary on Financial Performance Representations
The North American Securities Administrators Association, Inc. (NASAA) is requesting public comments on a proposed Financial Performance Representations Commentary (FPR Commentary). This proposal is a second request for public comment following the feedback received from the FPR Commentary proposal released for public comment in October of 2015. Comments are due on or before October 13, 2016 […]
July 27, 2016
