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Delaware Adopts Amendments to Limited Offering/Reg D Exemptions and Administrative Hearing, Investigation and Division Organization/Function Rules

By Jim Hamilton

Amendments to limited offering and Reg. D exemptions were adopted by the Delaware Division of Securities, together with changes to certain registration, administrative hearing, investigation and Division organization/structure rules. The rule changes take effect January 14, 2011.

The significant rule amendments include the following:

* The statutory limited offering exemption for no more than 25 persons present in Delaware during a 12-month consecutive time period is now, by rule, withdrawn for any security offered or sold in Delaware.

* The above limited offering rule eliminated the provisions for making an offering under Rule 505 of federal Regulation D.

* The small company offering registration rule was repealed.

For more information see http://attorneygeneral.delaware.gov

Full post as published by Jim Hamilton's World of Securities Regulation on January 11, 2011 (boomark / email).