Many Department of Banking and Securities releases and staff positions are made available in The Compendium
(PDF). The following is a list of commonly
used releases and staff positions (look for the corresponding bookmark within the Compendium):
12-OCA-2: Commission Guidelines Regarding the Use of Parent Company Financial Statements that is the Sole Guarantor of its Wholly-Owned Finance Subsidiary’s Securities under Sections 205 or 206 of the ’72 Act (Comp., pg. 115-118)
12-OCA-1: Commission Guidelines Regarding the use of Non-GAAP Financial Measures (Comp., pg. 112-115)
10-CF-1: Staff Position Regarding References to the SEC’s Accredited Investor Definition Pursuant to the Dodd-Frank Act (Comp., pg. 48-49)
07-CF-2: Staff Position on SCOR Offerings (Small Company Offering Registrations) Filed with the Department under the Pennsylvania Securities Act of 1972 (Comp., pg. 61-65)
07-CF-1: Staff Position Regarding Reinvesting in Notes and whether the Reinvestment is a Security as Defined by Section 102(t) of the Pennsylvania Securities Act of 1972 (Comp., pg. 14-15)
03-CF-1: SEC Rule 506 Notice Filing and Investment Company Notice Filings (Comp., pg. 96-98) *Section 602(b.1) was amended to increase the notice filing fee for Rule 506 Filings to $525.
00-CF-2: Use of Solicitation of Interest Materials Prior to Registration of Securities under Section 205 or 206 of the ’72 Act (Comp., pg. 37-47)
91-CF-4: Informal Staff Guidelines on Maximum-Minimum Offering Ratios in Public Direct Participation Programs (Comp., pg. 92-93)
89-CF-8: Counting of Purchasers under Department Regulations 203.184 and 203.187 and Section 203(f) of the ’72 Act (Comp., pg. 32-33)
89-CF-3: Staff Guidelines on Investor Suitability and Investment Limitation for Real Estate Investment Trusts (“REITs”) (Comp., pg. 60-61) *Investor Suitability income and net worth standards have been updated to comply with the current standards listed in the NASAA Statement of Policy Regarding Real Estate Investment Trusts [PDF].