Continuing Legal Education

Exempt Offerings: Regulation D to Crowd Funding

April 3, 2014
9:00 – 11:45 a.m.
2.25 MCLE hours, including 0.50 approved Professional Responsibility MCLE credit hours

ISBA Chicago Regional Office
20 S. Clark St, Suite 900
(map and directions)
Or Online Course


Click here to register for the live program in CHICAGO.

Click here to register for the LIVE WEBCAST.


Attorneys representing small to mid-size business that need access to investor capital need to be aware of the various multifaceted legal issues that can arise when funding a business, including the securities laws, rules and regulations that may affect the transaction. Don’t miss this opportunity to update your knowledge on a number of key areas, including:

  • An overview of Regulation D;
  • The changes to Regulation D brought about by the JOBS Act;
  • Crowd funding as an alternative option when Regulation D doesn’t work for the offering being contemplated;
  • The steps to a crowd funding offering, including issuer requirements, funding portal requirements, and when an offering can commence;
  • How monetary limits change based on the investor profile;
  • The risks associated with crowd funding;
  • The type of malpractice insurance necessary before engaging in securities work, as well as how insurance will be affected in the future;
  • The necessary due diligence when considering potential securities clients;
  • The Illinois state law considerations that should be taken into account when considering an exempt offering; and
  • Much more!
Please Note: Prior to the program, on-site/Chicago registrants will receive a weblink via email giving access the course materials prior to the program. You will also receive a copy of the course materials (for no additional charge) when you arrive at the program, but will need to check the appropriate box on the registration page letting us know if you prefer a flash drive or printed course book. Webcast attendees will receive the course materials via downloadable PDFs once signing into the webcast at the start of the program.

Program Coordinator:
Cory White, The International Business Law Group, Chicago

Program Moderator:
Brian F. Johnson, Johnson Bunce & Noble, P.C., Peoria



9:00 – 10:00 a.m.  Introduction to Regulation D
Don’t miss this introductory overview of Regulation D – from what it is and when compliance is appropriate, to the various Regulation D rules that need to be considered and the changes that have been brought about by the JOBS Act. Additional topics include: steps in a Regulation D private placement; restrictions on securities offered and sold using Regulation D; common pitfalls encountered during a Regulation D offering; the Illinois state law considerations that should be taken into account; and alternative options if Regulation D doesn’t work for the contemplated offering.
Prof. Charles W. Murdock, Loyola University Law School, Wilmette
William A. Price, Growth Law, Warrenville

10:00 – 10:45 a.m.  Crowd Funding
Enhance your understanding of how crowd funding is defined and the issues that prevented crowd funding from being a viable method for raising investor capital prior to the JOBS Act. Topics include: steps to a crowd funded offering; restrictions on securities offered through crowd funding; types of investors that can subscribe to the offering;; and the various risks that may arise throughout the process.
Cory White, The International Business Law Group, Chicago

10:45 – 11:00 a.m.  Break (refreshments provided)

11:00 – 11:30 a.m.  Practice Considerations*
There are a number of considerations you need to be aware of when counseling your business client. This segment explores the type of malpractice insurance that should be active prior to engaging in securities work, explains how engaging in securities representation can affect insurance going forward, discusses the type of due diligence necessary when considering potential securities clients, and helps you understand how to handle the client that asks you to cut corners.
Tanya Solov, Illinois Securities Department, Chicago

11:30 – 11:45 a.m. General Discussion: Question and Answer (no MCLE credit)