Section 34 Additional Exemptions

• Library: Bus Trans 2005

Section 3(b), 15 U.S.C. § 77c(b), of the 1933 Act authorizes the SEC to exempt small or limited offerings. Regulation A was promulgated under this provision to allow an issuer to make a public offering of up to $5 million in securities whose share price is less than $5. The issuer is entitled to use a simplified form of registration statement that follows a question-and-answer format. Audited financial statements are required for a Regulation A offering of those issuers that have them prepared for other...