Part I (Notification)
Proposed Rules
Part I of Form 1-A serves as a notice of certain basic information about the issuer and its proposed offering, which also helps to confirm the availability of the exemption.288 As proposed, Part I of Form 1-A would be converted into an online XML- based fillable form with indicator boxes or buttons and text boxes and would be filed 284 See Form 1-A, Part II, Part F/S (2014). Section 3(b)(2)(G)(i) also contemplates that the Commission may require issuers to submit audited financial statements. Currently, the financial statements required under Regulation A need to be audited only if the issuer has them otherwise available.
285 Id., Part II, e.g., Model B, Item 6 (Description of Business).
286 Id., e.g., Part F/S.
287 Id., e.g., Item 5 (Use of Proceeds to Issuer).
288 Rel. No. 33-6275 [46 FR 2637], at 2638.
online with the Commission.289 The information would be publicly available on EDGAR, as an online data cover sheet, but not otherwise required to be distributed to investors.290