Title

SEC Proposes Rule Changes to Facilitate Intrastate and Regional Securities Offerings
Client Memorandum

Created date

11/19/2015

On October 30, the SEC voted 3-1 to propose amendments to Securities Act Rule 147 and Rule 504 of Regulation D. The proposed rule amendments are intended to modernize and expand the capital-raising options available to startups and small businesses, including through the use of intrastate and regional securities offerings, and to enhance investor protection in such offerings.