The Regulation of Securities Committee will hold a conference call meeting on Thursday, June 20, 2019 from 4:00–4:45 pm. Please use the following conference call dial-in instructions:
Dial in: 1 888 585 9008Conference Room ID#: 779956677
The principal topic will be the new Michigan securities rules. The effective date for the new rules set generally is July 3, 2019, with the Private Fund Adviser Exemption becoming effective on January 3, 2020. Attached please see the rules. One issue that we will discuss will be the new “bad actor” disqualification of an issuer’s reliance upon Michigan exemptions from securities registration. Shane Hansen kindly furnished the attached presentations on this and will lead our discussion.
Shane will also furnish a few preliminary remarks on the following SEC rule-making activities that occurred earlier this week:
SEC Adopts Rules and Interpretations to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Financial Professionals06/05/2019 12:20 PM EDT
Statement Regarding the SEC’s Rulemaking Package for Investment Advisers and Broker-Dealers06/05/2019 09:30 AM EDT
Michigan Securities RulesMI LARA MUSA RulesMUSA MCL 451-2509 Civil LiabilityMUSA MCL 551-2008 Part 2--Exemptions from Registration of SecuritiesMUSA 1964 (Prior to Repeal)