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North American Securities Administrators Association Franchises

Fox Rothschild LLP

California Paves Way for Franchise Broker Registration and Disclosure Model

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Back in December 2022, we published a blog informing readers that guidance on franchise sales brokers and agents may be on the horizon. The North American Securities Administrators Association’s (“NASAA”) Franchise and...more

Fox Rothschild LLP

Franchise Renewal Season is Coming so What’s New with FRED?

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Last year, the North American Securities Administrators Association’s (NASAA) launched the Franchise Electronic Filing Depository System (“FRED”), the nationwide online filing portal for state franchise registration and...more

Fox Rothschild LLP

Washington Moves to Adopt NASAA SOP

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This week the Washington Securities Division announced that it is considering an amendment to the Washington Administrative Code (“WAC”) to formally adopt the Statement of Policy Regarding the Use of Franchise Questionnaires...more

Kaufman & Canoles

North American Securities Administrators Association Sets New Standards

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The North American Securities Administrators Association (NASAA) recently adopted a statement of policy that will limit the use of Questionnaires and Acknowledgements in Franchise Disclosure Documents (FDDs) and franchise...more

Fox Rothschild LLP

This New Year’s Eve say Auld Lang Syne to Old Franchise Questionnaires and Acknowledgements

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This fall we posted about the North American Securities Administrators’ (NASAA) adoption of a Statement of Policy Regarding the Use of Franchise Questionnaires and Acknowledgments (the “SOP”). Technically, NASAA’s SOP...more

Fox Rothschild LLP

Don’t Forget to Check Your Auditor’s Certification Before Franchise Renewal Time!

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As expected, the majority of this year’s State Regulatory Update Workshop at the Annual ABA Forum on Franchising Annual Meeting in San Diego, focused on the new NASAA Statement of Policy Regarding the Use of Franchise...more

Fox Rothschild LLP

Is a National Program for Franchise Broker Registration Coming and Other Franchise Broker Tips & Takeaways

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I had the pleasure this year along with fellow franchise attorneys, Gerry Wells of Rita’s Franchise Company and Allan Hillman of Garcia & Milas, to present at the ABA Forum on Franchising Annual Meeting in San Diego. The...more

Polsinelli

NASAA Shuts Down Use of Acknowledgments and Questionnaires in Franchise Sales Process

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The North American Securities Administrators Association, Inc. (“NASAA”) has just adopted a new policy regarding the use of franchise questionnaires and acknowledgments in the franchise sales process. In its Statement of...more

Lathrop GPM

NASAA Adopts Franchise Acknowledgment Policy That is Harmful to Franchisors

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​​​​​​​On September 18, the North American Securities Administrators Association (NASAA) adopted a Statement of Policy banning most acknowledgments and compliance questionnaires used by franchisors in the franchise sales...more

Lewitt Hackman

FRANCHISOR 101: COVID-19 vs. Item 19

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Item 19 of the Franchise Disclosure Document (FDD) can provide information on how a prospective franchisee may perform financially. Historical financial performance representations (FPRs) may be made if the franchisor has a...more

Lathrop GPM

Four Key Takeaways from the NASAA & Washington Commentaries on COVID-19 Disclosures

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On June 10, 2020, the North American Securities Administrators Association (NASAA) penned new commentary titled, “Disclosing Financial Performance Representations in the Time of COVID-19” (Commentary). Shortly thereafter,...more

Fox Rothschild LLP

Did You Know? NASAA Releases New Instructions

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On May 19, 2019, the North American Securities Administrators Association (NASAA) adopted new state cover sheets and state effective dates page for franchise disclosure documents. Beginning on January 1, 2020, the FDD must...more

Fox Rothschild LLP

NASAA’s Proposed FDD Cover Page Changes: Helpful Or Misleading?

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The North American Securities Administrators Association, Inc. (“NASAA”) is proposing to revise the instructions in the NASAA Franchise Registration and Disclosure Guidelines (the “Guidelines”) that outline policies and...more

Fox Rothschild LLP

(Almost) All Your Tricky FDD Drafting Questions Answered

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Almost every year at the IFA Annual Legal Symposium in Washington D.C., a panel of distinguished franchise attorneys and state regulators will discuss best practices in drafting a franchise disclosure document in compliance...more

Fox Rothschild LLP

ABA Forum Takeaway: Will The Trump Era Mark The End Of Franchise Regulation?

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As we head into Tuesday night’s State of the Union Address, our thoughts at Fox Rothschild return to last year at the ABA Forum on Franchising Annual Meeting in Palm Desert, California. One of the most interesting seminars...more

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