Regulation D is the result of the first cooperative effort by the small business investment companies (SBICs)to develop customized exemptions from securities registration for small issuers.

Question

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Regulation D is a set of rules created by the U.S. Securities and Exchange Commission (SEC) to provide exemptions from the registration requirements for certain private placements of securities, not a result of efforts by small business investment companies (SBICs).

Regulation D Is the Result of the First Cooperative Effort