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SEC Proposes Amendments to Regulation D and Form D
August 24, 2007 Full PDF
The SEC has proposed significant amendments to Regulation D and Form D for public comment. The amendments would: (i) add to Regulation D new Rule 507, which would permit sales of securities to "large accredited investors" and allow limited advertising in connection with such offerings; (ii) amend the definition of "accredited investor" in Rule 501(a) to add an alternative "investments-owned" standard and establish a mechanism to adjust the dollar-amount thresholds for future inflation; (iii) shorten from six months to 90 days the period during which Regulation D offers and sales of securities would be integrated with other exempt offerings of the same or similar classes of securities under the integration safe harbor; and (iv) create an interactive electronic filing system to replace the paper filing for Form D.