Reg A+ Debate Continues

The debate regarding state preemption for Tier 2 Regulation A+ offerings appears to continue.  Late last week, a group of Congressmen sent a letter to SEC Chair White reaffirming their view that the SEC has authority to define the term "qualified purchaser" in the context of state preemption and reiterating that the approach taken by the SEC in its proposed rules implementing Title IV of the JOBS Act is consistent with Congressional intent.  Here is the text of this most recent letter:   Congress' Letter to SEC Chair White (from a posting by BIO, the life sciences industry organization, which has been a supporter of Regulation A+).

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