SEC Proposes Electronic Filing and Simplification of Form D

July 01, 2007

On July 9, 2007, the U.S. Securities and Exchange Commission (SEC) proposed revisions to Form D, the official notice used in connection with private placements in the United States made in reliance on Regulation D under the U.S. Securities Act of 1933, as amended. Issuers claiming an exemption from registration in reliance on Regulation D must file Form D with the SEC no later than 15 days after the first sale of securities. The proposed changes to Form D are designed to, among other things, simplify the information requirements of Form D and mandate the electronic filing of the form through a new online filing system.

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