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Corporate & Securities Law

: Jim Hamilton's World of Securities Regulation

By Jim Hamilton

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North Carolina Provides Requirements for Issuers Claiming Rule 506 Exemption Following Mandate that Form D be Filed Electronically with the SEC

Issuers relying on the exemption under Rule 506 of federal Regulation D must submit to the North Carolina Securities Division an authenticated paper copy of the Form D filed electronically with the SEC and a $350 fee, beginning March 16, 2009. The filing must be made no later than 15 calendar days after the first sale of securities in North Carolina unless the 15th day falls on a Saturday, Sunday or holiday in which case the filing date will be the following business day. Issuers may file a Form D amendment at any time but must file an amended Form D to correct material mistakes of fact or error on a previously filed Form D within a reasonable time after discovering the mistake or error. Issuers must provide current information on an amended Form D no matter the reason why the amendment is filed.

For more information, please see http://www.sosnc.com/

Full post as published by Jim Hamilton's World of Securities Regulation on June 25, 2009 (boomark / email).