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Florida Administrative Code (Last Updated: June 27, 2024) |
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69. Department of Financial Services |
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69W. Securities |
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69W-500. Exempt Transactions |
69W-500.007. General Solicitation or General Advertising in Connection with an Offering Exempted Under Section 517.061(11), F.S
1(1) For purposes of Section 6517.061(11)(a)2., F.S., 8the requirement that there be no general solicitation or general advertising in connection with an offering exempted under Section 27517.061(11), F.S., 29shall be deemed to relate only to offers made in Florida in reliance upon Section 44517.061(11), F.S. 46General solicitation or general advertising may be made in connection with offers made outside of the State of Florida in reliance upon Section 69517.061(11), F.S., 71where permitted.
73(2) For purposes of Section 78517.061(11)(a)2., F.S., 80general solicitation or general advertising, shall be deemed to include, but not be limited to, the following:
97(a) Any advertisement, article, notice or other communication published in any newspaper, magazine or similar medium, or broadcast over the television or radio, or transmitted through electronic media; or
126(b) Any seminar, meeting, letter, circular, notice or other written communication.
137(3) Any seminar, meeting, letter, circular, notice or other written communication shall be deemed not to be in a form of general solicitation or general advertising when the issuer and any person acting on its behalf shall have reasonable grounds to believe after inquiry and shall believe that persons invited to or attending such seminar or meeting or receiving such letter, circular, notice or other written communication:
204(a) Have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the prospective investment; and
230(b) Are able to bear the economic risk to the prospective investment; or
243(c) As to persons invited to or attending any seminar or meeting who qualify only under paragraph (3)(b) of this rule, such persons are accompanied by an investment adviser.
272Rulemaking Authority 274517.03 FS. 276Law Implemented 278517.061(11) FS. 280History–New 12-5-79, Amended 9-20-82, Formerly 3E-500.07, Amended 7-31-91, Formerly 3E-500.007, Amended 10-29-12.
