The Securities and Exchange Commission (“SEC”), on March 25, 2015, issued the anticipated regulations for Regulation A+ (“Reg. A+”). Reg. A+ provides issuers of securities an alternative method of registering securities with the SEC. It is less costly and time consuming than filing an S-1 registration statement. An issuer may now register up to $50 million of free trading securities and offer the securities to the public. Up to $15 million of those securities may be registered by shareholders of the issuer. One of the key components of Reg. A+ is that it preempts the states from regulating in the area. This will reduce costs of a registration of securities and be more time efficient. The securities that are registered will be available to accredited investors and non-accredited investors alike. However, non-accredited investors who are natural persons will be permitted to invest no more than the greater of 10% of their income or net worth (calculated pursuant to rules set forth in Regulation D) in a transaction. For more information, please contact me at (858) 566-7010.