The Securities and Exchange Commission adopted final rules permitting companies to offer and sell securities through internet crowdfunding to all types of investors, whether or not accredited, and regardless of the investor’s net worth, income or sophistication. Regulation Crowdfunding sets forth rules governing the offer and sale of securities under new Section 4(a)(6) of the

On December 19, 2014, the North American Securities Administrators Association, Inc. (NASAA) launched its Electronic Filing Depository (EFD) for use in connection with state Form D filings required in Regulation D offerings under Rule 506 of the Securities Act of 1933, as amended.   The EFD is a multi-state electronic filing system that allows issuers to