SB15-104 Summary

• Extends the sunset date for Colorado's Division of Securities from July 1, 2015 to September 1, 2026, continuing the agency's operation for an additional 11 years.

• Updates references to the Financial Industry Regulatory Authority (FINRA) throughout securities statutes, replacing outdated references to the National Association of Securities Dealers.

• Adds Regulation A offerings under Securities and Exchange Commission rules to Colorado's securities registration requirements, requiring issuers to file notifications and pay exemption fees.

• Modifies registration coordination procedures to include SEC Regulation A filings and offering circulars alongside traditional prospectuses, and updates terminology related to federal securities law references.

• Implements recommendations from the 2014 Department of Regulatory Agencies sunset report on the Division of Securities.