NASAA Proposes Model Rule and Uniform Notice Filing Form

The North American Securities Administrators Association ("NASAA") requested comments on a proposed model rule and uniform notice filing form for Regulation A – Tier 2 offerings.

NASAA stated that the proposed model rule would (i) facilitate the implementation of a notice filing requirement for Regulation A – Tier 2 offerings, (ii) require the filing of a short form with basic information about the issuer and the offering, along with the payment of a filing fee, and (iii) set forth renewal and amendment requirements for offerings.

NASAA also emphasized that the proposed uniform notice filing form is intended to "simplif[y] the filing process for issuers by incorporating documents filed on EDGAR and including consent to service of process language within the form."

Comments must be submitted no later than February 26, 2016.

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