The SEC and the North American Securities Administrators Association ("NASAA") entered into a memorandum of understanding ("MOU") to ensure that recently adopted exemptions to intrastate crowdfunding and regional offering requirements are "serving their intended purpose of facilitating access to capital for small business." SEC Acting Chair Michael Piwowar stated that the MOU will keep "unnecessary and duplicative regulations" from standing "between entrepreneurs and their dreams":
"The best way to achieve this goal is by guaranteeing cooperation between state and federal securities regulators. That's why I'm so proud to join NASAA in signing this Memorandum of Understanding that solidifies our shared commitment to serving Main Street entrepreneurs and investors."
Commentary / Steven Lofchie
"So Happy Together" by The Turtles.
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