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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 comment period ended on Sept. 6, 2014 and the received comment letters are below.

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.

Comment Letters Received: