On December 7th, the Securities and Exchange Commission released a white paper titled “Regulation A+: What Do We Know So Far?“. 

This paper examines offering activity in the Regulation A+ market during June 2015-October 2016 and provides preliminary evidence on the impact of the 2015 amendments.

The Commission amended Regulation A, an exemption from securities registration, as ​part of implementing the JOBS Act.  These amendments (Regulation A+) became effective on June 19, 2015.

In a recent blog, Attorney David Feldman highlights his favorite quote from the white paper – “Early signs indicate that Regulation A+ may offer a potentially viable public offering on-ramp for smaller issuers—an alternative to a traditional registered IPO—and either an alternative or a complement to other securities offering methods that are exempt from Securities Act registration.” 

The full white paper can be viewed HERE.