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1. Regulation A+
Jumpstarting Small Businesses: How to Use Regulation A+ to Your Advantage While
Ensuring Compliance with the New Rules
On June 19, 2015, Regulation A+ became effective, expanding Regulation A securities registration exemptions
for many issuers. Regulation A+ was enacted as part of the JOBS Act of 2012 to create even more
opportunities for small businesses to raise capital without having to comply with some of the more onerous
features of the traditional registration process. Regulation A+ creates two tiers of offerings that are exempt
from registration under the Securities Act. Each tier has different offering caps, disclosure requirements
and ongoing reporting obligations, all of which enable issuers to have increased flexibility depending on their
financing needs.
Tier 1 has offerings of securities of up to $20 million in a 12-month period, and Tier 2 has offerings of securities
of up to $50 million in a 12-month period. Both Tiers are subject to certain basic requirements, while Tier 2
offerings are also subject to additional disclosure and ongoing reporting requirements.
Sifting through, keeping up with, and satisfying all of the new rules and requirements certainly can be
overwhelming.
How can Lexis® Securities Mosaic® help?
Use Lexis® Securities Mosaic® to find recent disclosure; rulemaking and administrative guidance; and
news and commentary related to Regulation A+, the registration process, and the new rule’s real-world
applicability to small businesses.
Disclosure
• Monitor Regulation A+’s new EDGAR®forms. Accompanying the implementation of Regulation A+
is a host of new EDGAR forms, including 1-K (annual report), 1-U (current report), and 1-Z (exit report).
By setting up alerts through the Securities Mosaic® SEC Filings page, you will be among the first to
know when any of these new forms are filed with the SEC and see what they look like in action.
• Track changes to Form 1-A. The amendments to Regulation A also include changes to its primary
offering document, Form 1-A. Previously available only in hard copy, the new Form 1-A must now
be submitted electronically. Part II of the form has been revised to eliminate the Q&A disclosure
format option and include additional disclosure requirements for Tier 2 issuers regarding executive
compensation and related party transactions. Search the Securities Mosaic SEC Filings page for
examples of Form 1-A to compare the old Form 1-A to the newly revised version and keep track of
which companies are utilizing Regulation A+ offerings.
• Look for an uptick in Form 8-A filings. Among the potential benefits of Regulation A+ is a
streamlined process for Exchange Act registration under Section 12(b). Tier 2 issuers interested in
listing their securities on a national securities exchange may use the Form 8-A short form registration
statement, rather than Form 10, provided they follow the S-1 disclosure model on Part II of the
offering document. The SEC has revised Form 8-A for use by Regulation A+ issuers; browse the
Securities Mosaic SEC Filings page to see Form 8-As submitted in connection with Regulation A+
offerings.
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Securities Mosaic®

2. Guidance
• View the full text of the SEC adopting release and other federal agency materials. Search the
Securities Mosaic® SEC Materials page to read the complete text of Regulation A+ as adopted by the
SEC. Our Laws, Rules, and Agency Materials page can yield relevant materials from other agencies as
well, including the GAO federal agency major rule report on Regulation A+.
• Search and sign up for alerts on rule making related to the JOBS Act and other new laws affecting
capital markets. Set up real-time alerts on Securities Mosaic to help you track changes as they’re
occurring and stay on top of your compliance and disclosure obligations.
• Pull SEC guidance materials related to Regulation A+. Wondering if Regulation A+ issuers can use
Twitter® to “test the waters” without violating Rule 255 communication requirements? Curious how
SEC staff will treat non-public correspondence submitted with the Regulation A+ offering circular
for review prior to filing? Get the answers by visiting our SEC Materials search page and searching for
“Regulation A+” within Compliance & Disclosure Interpretations and Other Guidance.
News and Commentary
• Stay well-informed on everything related to securities. Subscribe to our Daily Securities News
in your inbox each morning. This comprehensive newsletter includes SEC updates, corporate and
securities news stories from an assortment of notable world news sources, recent law firm memos,
market regulation updates, pending securities legislation, SEC enforcement and an SEC Final Rules
effective date calendar.
• Check out what the top U.S. law firms are saying. Go to our database of over 100,000 Law Firm
Memos and type in relevant keywords (e.g., “JOBS Act,” “Regulation A+,” “Form 8-A,” “Form 1-A”). Set
up a daily alert to automatically receive the results of your personalized search in your inbox.
• See what other influential analysts are saying. Sign up for our daily Securities Mosaic Blogwatch
email, which includes opinion and analysis from well-respected sources such as CorporateCounsel.
net and the Harvard Law School Forum on Corporate Governance and Financial Regulation. You can
also text-search the past six months of content in our Blogwatch archive.
Learn more about Lexis Securities Mosaic and how it can support your business today.
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