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DISB Proposed Rulemaking: District of Columbia-Only Securities Offerings Exemption

On this page, you will find information related to the D.C. Department of Insurance, Securities and Banking’s Notice of Proposed Rulemaking on the District of Columbia-Only Securities Offerings Exemption published August 8, 2014 with a 30-day comment period.

The proposed rulemaking can be found here as published in the August 8, 2014 issue of the D.C. Register.

The proposed rulemaking would establish a localized exemption from the District’s full securities registration requirements in order to simplify and encourage investing in D.C.-based small businesses.

To qualify for the exemption, the business must be organized under D.C. law, have its principal place of business in the District and the securities in the offering must be offered only to D.C. residents. The proposed method of funding (up to $2 million) will be available only to D.C.-based businesses, and the offerings must be in compliance with the limitations on intrastate offerings under the federal Securities Act of 1933 and the implementing regulation.

All persons desiring to file comments on the proposed rulemaking should submit written comments via e-mail to disb.dconlyregs@dc.gov. or by mail to the Department of Insurance, Securities, and Banking, 810 First Street, NE, Suite 701, Washington, DC 20002, Attn: Lilah R. Blackstone, Assistant General Counsel.

All comments should be labeled “Comment for Proposed Rulemaking re: DC-Only Securities Offerings Exemption.” Comment letters received by the department regarding this proposed rule will be posted to this webpage on a weekly basis throughout the comment period. Comments are due by Sept. 6, 2014.