SEC - Proposed changes to rules for exempt offerings  

February 13:  The SEC proposed revisions to Regulation A that would raise the limit on exempt offerings from $5 million to $50 million within a 12-month period.

The proposed revisions, required by the Jumpstart Our Business Startups Act, are designed to make it easier for small companies to raise capital while providing meaningful investor protection.

The proposed rules also would:

  • Create a two-tier system with easier requirements for small offerings (up to $5 million annually) compared to stricter requirements for larger offerings (up to $50 million annually)
  • Modernize the Regulation A filing process to be consistent with current practice for registered offerings

Read a February 2014 report [PDF 211 KB] prepared by KPMG LLP: Defining Issues: SEC Proposes Changing Rules for Exempt Offerings under Regulation A

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