Exemptions To Facilitate Intrastate and Regional Securities Offerings

---
identifier: "/us/fr/2017-03848"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Exemptions To Facilitate Intrastate and Regional Securities Offerings"
title_number: 0
title_name: "Federal Register"
section_number: "2017-03848"
section_name: "Exemptions To Facilitate Intrastate and Regional Securities Offerings"
positive_law: false
currency: "2017-02-28"
last_updated: "2017-02-28"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Securities and Exchange Commission"
document_number: "2017-03848"
document_type: "rule"
publication_date: "2017-02-28"
agencies:
  - "Securities and Exchange Commission"
cfr_references:
  - "17 CFR Part 230"
rin: "3235-AL80"
fr_citation: "82 FR 12067"
fr_volume: 82
docket_ids:
  - "Release Nos. 33-10238A"
  - "34-79161A"
  - "File No. S7-22-15"
effective_date: "2017-02-28"
fr_action: "Final rule; technical correction."
---


#  Exemption for limited offerings and sales of securities not exceeding $5,000,000.

**AGENCY:**

Securities and Exchange Commission.

**ACTION:**

Final rule; technical correction.

**SUMMARY:**

This document makes a technical correction to one of the final regulations (SEC Rel. No. 33-10238) published in the *Federal Register* on November 21, 2016 (81 FR 83494). Specifically, the amendments to Rule 504 of Regulation D under the Securities Act of 1933 inadvertently omitted the word “or” from the last sentence of the rule; this correction is reflected in the text of the amendments below.

**DATES:**

This correction is effective February 28, 2017.

**FOR FURTHER INFORMATION CONTACT:**

Anthony G. Barone, Special Counsel, or Jenny Riegel, Special Counsel, Division of Corporation Finance, at (202) 551-3460.

**SUPPLEMENTARY INFORMATION:**

We are making a technical correction to Rule 504 [^1] of Regulation D [^2] under the Securities Act of 1933.

[^1] 17 CFR 230.504.

[^2] 17 CFR 230.500 through 230.508.

**List of Subjects in 17 CFR Part 230**

Reporting and recordkeeping requirements, Securities.

**Text of the Amendments**

For the reasons set out above, title 17, chapter II of the Code of Federal Regulations is amended as follows:

**PART 230—GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933**

**17 CFR Part 230**

1. The general authority citation for part 230 continues to read as follows:

**Authority:**

15 U.S.C. 77b, 77b note, 77c, 77d, 77f, 77g, 77h, 77j, 77r, 77s, 77z-3, 77sss, 78c, 78d, 78j, 78 *l* , 78m, 78n, 78o, 78o-7 note, 78t, 78w, 78 *ll* (d), 78mm, 80a-8, 80a-24, 80a-28, 80a-29, 80a-30, and 80a-37, and Pub. L. 112-106, sec. 201(a), sec. 401, 126 Stat. 313 (2012), unless otherwise noted.

**17 CFR Part 230**

2. Amend § 230.504 by revising paragraph (b)(2) to read as follows:

§ 230.504

(b) * * *

(2) The aggregate offering price for an offering of securities under this § 230.504, as defined in § 230.501(c), shall not exceed $5,000,000, less the aggregate offering price for all securities sold within the twelve months before the start of and during the offering of securities under this § 230.504 or in violation of section 5(a) of the Securities Act.

Dated: February 22, 2017.

Brent J. Fields,

Secretary.