Regulation A by The SEC

5.

  • Topic Tags

Securities regulation in the US, securities registration, registration exemptions

  • Relevant questions addressed

What is Regulation A?

  • Summary bullet points
  • Regulation A is an exemption from registration for public offerings.
  • Two tiers
    • Tier 1 up to $20 million
    • Tier 2 up to $50 million
  • Some restrictions are common to both tiers (company eligibility requirements, bad actor disqualification provisions, disclosure, and other matters.)
  • Tier 2 is more restrictive
    • includes limitations on the amount of money a non-accredited investor may invest in a Tier 2 offering,
    • requirements for audited financial statements and the filing of ongoing reports.
    • Issuers in Tier 2 offerings are not required to register or qualify their offerings with state securities regulators.
  • Follow-up links