Adopted NASAA Policies

The following Statements of Policy adopted by the North American Securities Administrators Association (NASAA) are applied to equity offerings that apply for registration with the Securities Division.

Although these policies are applied to equity offerings regardless of whether they are applying for registration pursuant to qualification, coordination, the Small Company Offering Registration (SCOR) program, or one of the coordinated review programs, each offering is considered separately and certain provisions of these policies may be waived or modified to fit a particular offering.

If you have questions regarding these policies, please contact:
Jill Vallely at Jill.Vallely@dfi.wa.gov or 360-902-8801

Hard copies of these policies may also be requested by contacting:
Cheryl Pearson at Cheryl.Pearson@dfi.wa.gov or 360-902-8762

Policies

• Corporate Securities Definitions (PDF)*
• Loans and Other Material Affiliated Transactions (PDF)*
• Options and Warrants (PDF)*
• Underwriting Expenses, Underwriter's Warrants, Selling Expenses and Selling Security Holders (PDF)*
• Promoter's Equity Investment (PDF)*
• Promotional Shares (PDF)*
• Impoundment of Proceeds (PDF)*
• Specificity in Use of Proceeds (PDF)*
• Unsound Financial Condition (PDF)*
• Preferred Stock (PDF)*
• Unequal Voting Rights (PDF)*

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.