Thursday, January 06, 2011

Missouri Proposes Aligning Rule 505 and 506 notice filing requirements with electronic Form D

Issuers intending to make a securities offering under Rule 505 or 506 of federal Regulation D would, under a proposed rule change by the Missouri Securities Division, file one paper copy of their SEC-filed electronic Form D, a $100 fee and a cover letter stating the date on which the first sale of securities occurred in Missouri or whether no sales have yet occurred in the State. Issuers would send each notice to the Missouri Securities Commissioner no later than 15 calendar days after the first sale of the securities in Missouri, unless the due date falls on a Saturday, Sunday or holiday in which case the due date is the following first business day. NOTE: The Form U-2, Consent to Service of Process requirements would be eliminated.

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