NASAA Requests Comments Regarding a Proposed Model Rule for the Electronic Filing of Form D and Registration Documents

The Electronic Filing Depository Committee of NASAA (the "Committee") announced that it is seeking comments on a proposed model rule to require the electronic filing of Form D and other state securities registration filing materials.

NASAA is developing an electronic filing system ("EFD") that will facilitate the electronic filing of Form D for Rule 506 offerings with its U.S. member jurisdictions. The current scheduled deployment date for the EFD system is November 2014. While the EFD system initially will be limited to Form D filings for Regulation D, Rule 506 offerings, NASAA expects that the EFD system will be expanded to include additional state securities registration and notice filing materials.

The proposal includes (i) Alternative 1, which is limited to Form D filings, and (ii) Alternative 2, which is broader in scope and would cover all potential state registrations and notice filings made through EFD.

Comments are due on or before July 30, 2014.

See: EFD Model Rule Cover Memo and Rule Posted for Public Comment.