On September 15, 2008, the SEC put into effect a new adaptation of
Form D to:
• make clear and make straightforward the reporting process;
• make sure that relevant information was a requisite to be reported;
and
• remove the reporting of unnecessary information.
The new Form D, unlike its prior version required the issuer to
mention the date of the first sale of securities, additional information about
the issuer and also any additional information about the recipient of sales
commission. The new version of Form D does not require issuers to provide the name
or details regarding the utilization of offering proceeds. The new adaptation
also makes very clear when issuers are required to file amendments.
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