regulation a

Regulation A is an exemption from federal securities registration. Regulation A permits an issuer to raise a limited dollar amount in an offering of securities. Although technically an exemption from registration under the '33 Act, Regulation A requires that an issuer prepare an offering statement which is filed with and reviewed by the SEC. The offering statement must be furnished to any potential investor. If an issuer is subject to certain disqualification provisions of Rule 252 under the '33 Act, it may not rely on the Regulation A exemption.