Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
032 - OFFICE OF SECURITIES
Chapter 525 - RULE REGARDING SMALL COMPANY OFFERING REGISTRATIONS
Section 032-525-2 - Purpose

Universal Citation: 02 ME Code Rules ยง 032-525-2
Current through 2024-38, September 18, 2024

The purpose of this rule is to facilitate public investment in small businesses. The rule accomplishes this purpose by (a) permitting the use of a simplified registration statement form for smaller offerings and (b) promoting uniformity with other jurisdictions that require the registration of securities.

The rule offers an alternative method of state registration for issuers of securities that are exempt from federal registration pursuant to Rule 147, Rule 504, or Regulation A. The rule is intended to reduce the costs and burdens of raising capital for small business without sacrificing investor protection. The rule is not intended to contain the exclusive method of registration by qualification under 32 M.R.S.A. §16304.

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