# US private offering and blue sky compliance
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Reviews US private securities offerings and resale transactions for Securities Act compliance — validates exemption selection (Reg D Rules 504/506(b)/506(c)…

Reviews US private securities offerings and resale transactions for Securities Act compliance — validates exemption selection (Reg D Rules 504/506(b)/506(c), Reg A/A+, Reg CF, Section 4(a)(2), Section 4(a)(7), Rule 144/144A), audits accredited investor verification procedures, performs bad actor disqualification checks under Rule 506(d), analyzes general solicitation controls, reviews offering materials and investor disclosures, maps Blue Sky notice filing obligations across all states, applies the integration doctrine, identifies broker-dealer and finder touchpoints, and builds a post-closing compliance calendar. Use when structuring a new Reg D offering, advising on resale path for restricted securities, preparing Blue Sky filings, reviewing placement agent agreements, conducting a private placement compliance audit, evaluating bad actor status of offering participants, or assessing securities law exposure before an M&A transaction involving privately placed securities. US federal Securities Act of 1933 plus state Blue Sky laws. Companion to legalcode-us-sec-reporting-compliance for public companies.

This skill audits US private securities offerings — from initial structuring through post-closing compliance — against the Securities Act of 1933, Regulation D, and applicable state Blue Sky laws. **Covers:** - Exemption selection and validation (Reg D 504/506(b)/506(c), Reg A/A+, Reg CF, Section 4(a)(2), Section 4(a)(7), Rule 144, Rule 144A) - Accredited investor and QIB qualification and verification - Bad actor disqualification checks (Rule 506(d)/506(e)) - General solicitation and advertising controls (Rule 502(c) vs. Rule 506(c)) - Offering materials: PPM sufficiency, Rule 502(b) disclosure requirements, subscription agreement review, investor questionnaire adequacy - Blue Sky preemption analysis (NSMIA covered securities vs. merit review states) - State notice filing map — all 50 states + DC + territories - Integration doctrine analysis (amended Rule 152, safe harbors) - Broker-dealer and finder compliance (Reg BI, FINRA Rule 5123, Section 15(a) registration analysis, M&A broker exemption) - Post-closing compliance: Form D filing/amendment, legend compliance, resale restriction analysis, Form D annual updates **Does not:** - Provide legal advice or substitute for qualified securities counsel - Cover Exchange Act registration or ongoing reporting for public companies (see legalcode-us-sec-reporting-compliance) - Cover Regulation S offshore offerings (separate analysis required) - Address Investment Advisers Act registration for fund managers ...

## Jurisdictions

United States — Federal



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