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
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
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
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
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
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
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
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
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
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
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
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
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
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
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