NASAA Requests Comments on Proposed Guidelines for Electronic Offerings

The North American Securities Administrators Association ("NASAA") requested public comment on its proposed Electronic Initiatives Statement of Policy regarding the use of electronic offering documents and electronic signatures. The proposal allows NASAA to establish uniform guidelines for assessing the risks of such electronic agreements. It also addresses the requirements and restrictions to which an issuer would be subject when using electronic offering documents (including subscription agreements) and electronic signatures.

Comments on the proposal are due by June 1, 2016.