In 2022 the SEC’s OASB reported over $3T raised with Regulation D (see the full report). As stated in another blog here on PPM Docs, select groups of Congress are now calling for stricter regulations. One of the proposals on the table is requiring companies to file Form D ‘prior to’ raising capital vs. the current rule, allowing a 15 day window to file ‘after’ raising capital (see current proposals). Another proposed rule change would give certain ‘consequences’ to those who do not file, or are late filing, Form D.
The SEC has developed an internal office for reporting on small business. It’s called the ‘Office of the Advocate for Small Business Capital Formation.’ They gather information on small business and report to the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate and the Committee on Financial Services of the U.S. House of Representatives in accordance with Section 4(j) of the Securities Exchange Act of 1934 (the Exchange Act), as amended by the SEC Small Business Advocate Act of 2016, 15 U.S.C. § 78d(j)(6).
$3T raised with Regulation D, SEC says
Regulation D has grown exponentially in the past few years. The COVID 19 crisis was a major driver, as companies sought to raise capital. Take a look at the companies currently raising capital with Regulation D (Click Here).
