Alert - The Colorado Division of Securities expands online filings

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November 06, 2020

Effective December 1, 2020, The Colorado Division of Securities has announced that it will be expanding online filing capabilities, making it easier for issuers to submit a greater range of corporation finance materials used for capital raises.

“We are pleased to continue to modernize and streamline the filing process and offer additional online efficiencies for issuers and their offerings. This is especially important during the pandemic while many of us find ourselves working remotely,” said Securities Commissioner Tung Chan.

The new functionality, referred to as “Universal Filing Type,” allows filers to submit electronic filings to the Colorado Division of Securities for a variety of corporation finance offerings not previously available through the Electronic Filing Depository (EFD) and to pay associated fees. These offerings include, among others, registrations by coordination and qualification, Regulation A (Tier 1 and Tier 2), and crowdfunding (federal and state).

Developed by the North American Securities Administrators Association (NASAA), of which the Colorado Division of Securities is a member, the EFD System was launched in 2014 and was initially used to facilitate the filing of Form D for Regulation D, Rule 506 offerings with state securities regulators, and to pay related fees. The system was expanded last year to accommodate Form NF-UIT notice filings for unit investment trusts (UITs) with the Colorado Division of Securities.

Effective December 1, 2020, the Colorado Division of Securities will no longer accept hard copy submissions made pursuant to Rule 504 and Section 11-51-308(1)(p) C.R.S. since EFD is now capable of accepting such filings. All Form D filings must be submitted to the Securities Commissioner through EFD.   To submit your filing through NASAA’s EFD system, please visit www.efdnasaa.org.

The EFD website also enables the public to search and view, free of charge, Regulation D Rule 506 and Form NF-UIT filings made through EFD. EFD is available at: https://www.efdnasaa.org.

“If you have questions about a particular offering, you should contact the Colorado Division of Securities,” Commissioner Chan said.

Issuers or investors with questions about EFD can contact the Colorado Division of Securities at dora-SecuritiesWebsite@state.co.us or at (303) 894-2320.

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The Colorado Department of Regulatory Agencies 

At DORA, we believe in fostering a Colorado where consumers and service providers partner, forging shared successes. With a sharp focus on streamlining and modernizing processes and enhancing end-to-end customer experiences, we strive to advance an environment and regulatory framework where both businesses and consumers are treated fairly, and the economy thrives. Our nearly 600 employees are dedicated to preserving the integrity of the marketplace and promoting a fair and competitive business environment throughout Colorado.

The Colorado Division of Securities

The Division of Securities exists to protect investors and maintain confidence in the securities market, while avoiding unreasonable burdens on the marketplace by licensing securities professionals, enforcing securities law violations, and helping Coloradans become more informed investors.