The Securities and Exchange Commission (SEC) has announced that it will hold an Open Meeting on Wednesday, December 18, 2013 at 10:00a.m. (EST) to consider whether to proposed rules and forms related to the offer and sale of securities pursuant to Section 3(b) of the Securities Act of 1933, as mandated by Title IV of the Jumpstart Our Business Startups Act (JOBS Act). The notice can be found here:http://www.sec.gov/news/openmeetings/2013/ssamtg121813.htm.
Title IV creates a new federal securities exemption for certain public offerings in an amount of up to $50 million. This new exemption is commonly known as “Regulation A+” because it is based upon Regulation A, which already exists but is rarely used. Regulation A provides an exemption for the public offer or sale of securities in an amount up to $5 million per year for US or Canadian entities that meet certain conditions.
Following the meeting, a Webcast Archive can be found on the SEC’s website by clicking here:http://www.sec.gov/news/openmeetings.shtml