Fact Pattern 42-1
College Bound, Inc., markets test and study prep materials and courses. College Bound wants to make an initial public offering of securities. The firm believes that it qualifies for an exemption under Regulation A from the full registration requirement of the Securities Act of 1933.
-Refer to Fact Pattern 42-1. If College Bound is exempt from the federal registration requirement, the firm is

Question

Fact Pattern 42-1 ​
College Bound, Inc., markets test and study prep materials and courses. College Bound wants to make an initial public offering of securities. The firm believes that it qualifies for an exemption under Regulation A from the full registration requirement of the Securities Act of 1933.
-Refer to Fact Pattern 42-1. If College Bound is exempt from the federal registration requirement, the firm is​

Quizplus · Accepted Answer

While an exemption under Regulation A allows a company to avoid the full federal registration requirement, it does not automatically exempt the company from state registration requirements. College Bound may still need to comply with state securities laws and register their offering with state regulators.

Fact Pattern 42-1 ​

Fact Pattern 42-1