Exemptions from '33 Act Registration Requirements - Explained
Securities Law - Registration Exemptions
Written by Jason Gordon
Updated at September 25th, 2021
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What are Exemptions from Securities Registration?
The registration and public offering process is extremely burdensome for startup companies. Numerous statutory and rule-based exemptions to the securities registration process exist. The statutory exemptions fall under Sections 3 and 4 of the 33 Act. The rule-based exemptions are based upon statutory exemptions and are found primarily in Regulation A and Regulation D of the 33 Act. These statutory and rule-based exemptions either exempt this type of security from registration or exempt a particular type of transaction from registration. We address the various exemptions individually.
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Related Topics
- Registration Exemptions Securities Act of 1933
- What are Exempt Securities and Exempt Transactions?
- What are Restricted Securities?
- Section 3(a)?
- Section 3(b)?
- What is a Rule 147 Exemption?
- What is a Section 4(a) Exemption?
- Section 4(a)(5)?
- What is a Regulation A Exemption?
- What are Regulation D Exemptions?
- What is a Rule 504 Exemption?
- What is a Rule 505 Exemption?
- What is a Rule 506(b) Exemption?
- What is a Rule 506(c) Exemption?
- What is Rule 502(d) and the Rule 144 Safe Harbor?
- Rule 144a
- What are the disclosure requirements for companies employing an exemption?
- What is the requirement to file Form D?
- What is the effect of failing to register an offering under Section 5?