Montana and Massachusetts Officials to Challenge Regulation A+
In federal appeals court later this month, state securities regulators and the Securities and Exchange Commission (“SEC”) will square off over the agency’s Regulation A+ amendments under the JOBS Act. Montana and Massachusetts officials seek to overturn the capital formation rule, contending it overlaps state management of certain securities offerings. Issued in June 2015, Release No. 33-9741, Amendments to Regulation A, the rules increase the amount companies can raise (up to $50 million) in transactions that are compared frequently to small-scale initial public offerings, but have lesser disclosure and accounting requirements than more traditional registered offerings. The final rules allowed companies to. Read More.