SIE practice questionhardSecurities Act of 1933
A private offering of equity to sophisticated individuals is conducted under which exemption?
- ASection 12 of the '34 Act
- BRegulation S
- CRegulation A+
- DRegulation D✓ Correct answer
Explanation
Why D — Regulation D
Private placements to sophisticated and accredited investors are exempt under Reg D. Reg S (B) is for offshore, Reg A+ (C) for public mini-IPOs, and Section 12 (D) covers reporting.
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