Some questions regarding Regulation D exemptions

[Ivan Souvorov]

Hello all - I am in the process of planning a syndication business and want to get a better grasp on SEC exemptions.

Under certain Reg D exemptions the SEC allows up to 35 non-accredited investors... Is this 35 per deal? Per year across the company on all deals? How does this work?

Under certain exemptions the SEC requires you to file the exemption. Can you file different exemptions for different deals? For example a 504 for deal A and a 506 for deal B? or are you limited to only one type of exemption once for your company, or is there flexibility?

Thanks for your response.

[Evan Polaski]

@Ivan Souvorov, these are all great questions for a securities attorney, as anything we say is meaningless, since we are typically a) not attorneys and b) even if we were, it would likely be unwise to offer formal legal advice on a forum like this.

That being said, typically each OFFERING is viewed separately, and again back to my "consult an attorney" comment, and the name you operate under isn't a party to any offering, contract, etc.  From a legal perspective, nearly every function you can think of is a separate legal entity in order to solo liability for all parties involved.