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CALIFORNIA CORPORATE & SECURITIES LAW

Investment Companies And Intrastate Offerings

Recently, my eye caught the following statement in the SEC’sĀ Intrastate Offering Exemptions: A Small Entity Compliance Guide for Issuers: Issuers registered or required to be registered under the Investment Company Act of 1940 are not eligible to conduct offerings pursuant to Section 3(a)(11), Rule 147 or Rule 147A. This seemed accurate enough with respect to…

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