Florida Regulations 69W-500.007: General Solicitation or General Advertising in Connection with an Offering Exempted Under Section 517.061(11), F.S
Current as of: 2024 | Check for updates
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(1) For purposes of section 517.061(11)(a)2., F.S., the requirement that there be no general solicitation or general advertising in connection with an offering exempted under Florida Statutes § 517.061(11), shall be deemed to relate only to offers made in Florida in reliance upon Florida Statutes § 517.061(11) General solicitation or general advertising may be made in connection with offers made outside of the State of Florida in reliance upon Florida Statutes § 517.061(11), where permitted.
(2) For purposes of section 517.061(11)(a)2., F.S., general solicitation or general advertising, shall be deemed to include, but not be limited to, the following:
(a) Any advertisement, article, notice or other communication published in any newspaper, magazine or similar medium, or broadcast over the television or radio, or transmitted through electronic media; or
(b) Any seminar, meeting, letter, circular, notice or other written communication.
(3) Any seminar, meeting, letter, circular, notice or other written communication shall be deemed not to be in a form of general solicitation or general advertising when the issuer and any person acting on its behalf shall have reasonable grounds to believe after inquiry and shall believe that persons invited to or attending such seminar or meeting or receiving such letter, circular, notice or other written communication:
(a) Have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the prospective investment; and,
(b) Are able to bear the economic risk to the prospective investment; or
(c) As to persons invited to or attending any seminar or meeting who qualify only under paragraph (3)(b) of this rule, such persons are accompanied by an investment adviser.
Rulemaking Authority 517.03 FS. Law Implemented 517.061(11) FS. History-New 12-5-79, Amended 9-20-82, Formerly 3E-500.07, Amended 7-31-91, Formerly 3E-500.007, Amended 10-29-12.
(2) For purposes of section 517.061(11)(a)2., F.S., general solicitation or general advertising, shall be deemed to include, but not be limited to, the following:
(a) Any advertisement, article, notice or other communication published in any newspaper, magazine or similar medium, or broadcast over the television or radio, or transmitted through electronic media; or
(b) Any seminar, meeting, letter, circular, notice or other written communication.
(3) Any seminar, meeting, letter, circular, notice or other written communication shall be deemed not to be in a form of general solicitation or general advertising when the issuer and any person acting on its behalf shall have reasonable grounds to believe after inquiry and shall believe that persons invited to or attending such seminar or meeting or receiving such letter, circular, notice or other written communication:
(a) Have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the prospective investment; and,
(b) Are able to bear the economic risk to the prospective investment; or
(c) As to persons invited to or attending any seminar or meeting who qualify only under paragraph (3)(b) of this rule, such persons are accompanied by an investment adviser.
Rulemaking Authority 517.03 FS. Law Implemented 517.061(11) FS. History-New 12-5-79, Amended 9-20-82, Formerly 3E-500.07, Amended 7-31-91, Formerly 3E-500.007, Amended 10-29-12.