Title

SEC Adopts Final Regulation A+ Rules
Client Memorandum

Created date

3/30/2015

On March 25, 2015, the SEC adopted amendments to Regulation A, a Securities Act exemption for
offerings by nonpublic US and Canadian companies. The final rules (colloquially called “Regulation A+”)
enable companies to offer and sell up to $50 million of securities in a rolling 12-month period in public
offerings without complying with the normal registration requirements of the Securities Act. The rules,
which are required by the JOBS Act of 2012, are one piece of Congress’s efforts to facilitate capitalraising
by smaller companies.