The North American Securities Administrators Association (NASAA) recently unveiled a new online Electronic Filing Depository that will allow an issuer of securities to submit a Form D for a Regulation D, Rule 506 offering to state securities regulators and pay related fees.
This system will be available 24 hours a day, 7 days a week. In addition to the filing fees required by the states, there is a one-time $150 system use fee for each offering making its filings through the system, which fee will cover any required amendment and renewal filings.
This system is initially limited to Form D filings for Regulation D, Rule 506 offerings, but NASAA expects the system to be expanded to include additional state securities registration and notice filing materials.
Currently, 37 states plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands are participating and accepting Form D filings through the Electronic Filing Depository.
Click here for a link to the Electronic Filing Depository. As always, please be sure to consult with your attorney and other professional advisors regarding federal and state securities offering requirements.
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