SEC Guidance On Regulation A+

The SEC has provided guidance to issuers on Regulation A+ offerings. You can access the SEC's Small Entity Compliance Guide here: http://www.sec.gov/info/smallbus/secg/regulation-a-amendments-secg.shtml.

In addition, the SEC Staff has published a number of Compliance and Disclosure Interpretations, which may be accessed here: http://www.sec.gov/divisions/corpfin/guidance/securitiesactrules-interps.htm#182.01.

For convenience, we have reprinted below the C&DIs.

Section 182. Rules 251 to 263

Question 182.01

Question: Where an issuer elects to non-publicly submit a draft offering statement for staff review pursuant to Rule 252(d) of Regulation A before publicly filing its Form 1-A, Item 15 (Additional Exhibits) of Part III (Exhibits) to Form 1-A requires issuers to file as an exhibit to the publicly-filed offering statement: (1) any non-public, draft offering statement previously submitted pursuant to Rule 252(d), and (2) any related, non-public correspondence