A+ Or Not?

The SEC has scheduled an open meeting for this Wednesday to consider whether to adopt rules and forms related to the offer and sale of securities pursuant to Section 3(b) of the Securities Act of 1933 to implement Section 401 of the Jumpstart Our Business Startups Act—or, in other words, whether to adopt the Reg A+ rules.  See here for the meeting notice:  http://www.sec.gov/news/openmeetings/2015/ssamtg032515.htm.  As we have written in prior blog posts, the utility and future of Reg A+ will turn largely on state pre-emption for Tier 2 (or larger) Reg A+ offerings.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.