SEC Adopts Final Rules Allowing Reporting Companies to Use Regulation A Exemption

The SEC adopted final rules allowing reporting companies to use the Regulation A exemption from registration for their securities offerings.

The final rules amend Securities Act Rule 251 to permit companies subject to the Exchange Act Section 13 or 15(d) reporting requirements to use the exemption provided by Regulation A. The final rules also revise Securities Act Rule 257 to provide that companies satisfying the reporting requirements of the Exchange Act have met the Regulation A reporting requirements. In addition, the SEC made other conforming changes to Regulation A and Form 1-A.

The final rules will become effective upon their publication in the Federal Register.