As required by the Economic Growth, Regulatory Relief, and Consumer Protection Act, the SEC adopted final rules to allow public reporting companies to rely on the Reg A exemption from registration for their securities offerings. 

The Reg A exemption, which has previously not been available for public companies, permits offerings of securities up to $50 million in a 12-month period.   The final rules amend Rule 251 to permit public reporting companies to use Reg A and revise Rule 257 to provide that companies that meet the reporting requirements of the Exchange Act will be deemed to have satisfied the ongoing reporting requirements of Reg A. The revisions are designed to allow public companies more flexibility in structuring their capital-raising transactions. The amendments to Reg A will become effective upon publication in the Federal Register.

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