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| reg_cf_exemptions [2024/10/14 12:56] – created - external edit 127.0.0.1 | reg_cf_exemptions [2026/02/10 16:23] (current) – Added structured metadata per Lexipedia BPMN Model Metadata Standard (Tier 1 required + select Tier 2/3/4 fields). Restructured page with Overview, Detailed Requirements, and BPMN Model sections. admin |
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| Detailed Reg CF Requirements | ====== Regulation Crowdfunding (Reg CF) Exemptions ====== |
| ============================ | |
| | <code yaml metadata> |
| | process_id: L-US-FED-SEC-001 |
| | title: Regulation Crowdfunding (Reg CF) Exemptions |
| | description: > |
| | Detailed requirements and process for conducting a securities offering |
| | under Regulation Crowdfunding (Reg CF), including issuer eligibility, |
| | offering and investor limits, disclosure requirements, use of |
| | intermediaries, advertising restrictions, ongoing reporting, and |
| | resale restrictions. |
| | category: financial-processes/securities |
| | jurisdiction: |
| | country: US |
| | level: federal |
| | regulatory_body: SEC |
| | source_authority: |
| | name: U.S. Securities and Exchange Commission |
| | url: https://www.sec.gov/education/smallbusiness/exemptofferings/regcrowdfunding |
| | status: draft |
| | version: 1.0.0 |
| | created_date: 2026-01-05 |
| | last_reviewed: 2026-01-05 |
| | contributors: ["@anson_parker"] |
| | license: CC-BY-SA-4.0 |
| | process_type: branching |
| | is_executable: false |
| | complexity: complex |
| | risk_level: high |
| | confidence_level: guidance |
| | soundness_verified: false |
| | tags: ["securities", "crowdfunding", "reg-cf", "SEC", "federal", "fundraising", "startup-funding"] |
| | </code> |
| | |
| | ===== Overview ===== |
| | |
| | Regulation Crowdfunding (Reg CF) allows eligible companies to offer and sell securities through crowdfunding. This model covers the complete requirements process under [[https://www.sec.gov/education/smallbusiness/exemptofferings/regcrowdfunding|SEC Regulation Crowdfunding]], from issuer eligibility through resale restrictions. |
| | |
| | See also: [[https://www.wikidata.org/wiki/Q348303|Wikidata: Crowdfunding]] |
| | |
| | ===== Detailed Reg CF Requirements ===== |
| |
| 1. Issuer Eligibility | 1. Issuer Eligibility |
| - In connection with the death or divorce of the purchaser | - In connection with the death or divorce of the purchaser |
| - Or as part of an offering registered with the SEC | - Or as part of an offering registered with the SEC |
| | |
| | ===== BPMN Model ===== |
| |
| <bpmnio type="bpmn"> | <bpmnio type="bpmn"> |
| <?xml version="1.0" encoding="UTF-8"?> | <?xml version="1.0" encoding="UTF-8"?> |
| <definitions xmlns="http://www.omg.org/spec/BPMN/20100524/MODEL" xmlns:bpmndi="http://www.omg.org/spec/BPMN/20100524/DI" xmlns:dc="http://www.omg.org/spec/DD/20100524/DC" xmlns:di="http://www.omg.org/spec/DD/20100524/DI" id="definitions_1"><process id="Process_1" isExecutable="false"><startEvent id="start"><outgoing>start-eligibilityCheck</outgoing></startEvent><exclusiveGateway id="eligibilityCheck" name="Check Issuer Eligibility"><incoming>start-eligibilityCheck</incoming><outgoing>eligibilityCheck-task1</outgoing></exclusiveGateway><task id="task1" name="Check Offering Limit"><incoming>eligibilityCheck-task1</incoming><outgoing>task1-investorLimitCheck</outgoing></task><exclusiveGateway id="investorLimitCheck" name="Check Investor Contribution Limits"><incoming>task1-investorLimitCheck</incoming><outgoing>investorLimitCheck-task8</outgoing><outgoing>investorLimitCheck-task9</outgoing><outgoing>investorLimitCheck-offeringLimitCheck</outgoing></exclusiveGateway><task id="task8" name="Apply 5% Limit"><incoming>investorLimitCheck-task8</incoming><outgoing>task8-offeringLimitCheck</outgoing></task><task id="task9" name="Apply 10% Limit"><incoming>investorLimitCheck-task9</incoming><outgoing>task9-offeringLimitCheck</outgoing></task><exclusiveGateway id="offeringLimitCheck" name="Offering Limit Check"><incoming>task8-offeringLimitCheck</incoming><incoming>task9-offeringLimitCheck</incoming><incoming>investorLimitCheck-offeringLimitCheck</incoming><outgoing>offeringLimitCheck-task2</outgoing></exclusiveGateway><task id="task2" name="Check Investor Limits"><incoming>offeringLimitCheck-task2</incoming><outgoing>task2-task3</outgoing></task><task id="task3" name="Prepare Disclosure Requirements"><incoming>task2-task3</incoming><outgoing>task3-task4</outgoing></task><task id="task4" name="Select Intermediary"><incoming>task3-task4</incoming><outgoing>task4-task5</outgoing></task><task id="task5" name="Comply with Advertising Restrictions"><incoming>task4-task5</incoming><outgoing>task5-task6</outgoing></task><task id="task6" name="Prepare Ongoing Reporting"><incoming>task5-task6</incoming><outgoing>task6-task7</outgoing></task><task id="task7" name="Understand Resale Restrictions"><incoming>task6-task7</incoming><outgoing>task7-end</outgoing></task><endEvent id="end"><incoming>task7-end</incoming></endEvent><sequenceFlow id="start-eligibilityCheck" sourceRef="start" targetRef="eligibilityCheck" /><sequenceFlow id="task1-investorLimitCheck" sourceRef="task1" targetRef="investorLimitCheck" /><sequenceFlow id="task8-offeringLimitCheck" sourceRef="task8" targetRef="offeringLimitCheck" /><sequenceFlow id="investorLimitCheck-task8" name="Income/Net Worth < $107,000" sourceRef="investorLimitCheck" targetRef="task8" /><sequenceFlow id="task9-offeringLimitCheck" sourceRef="task9" targetRef="offeringLimitCheck" /><sequenceFlow id="investorLimitCheck-task9" name="Income/Net Worth >= $107,000" sourceRef="investorLimitCheck" targetRef="task9" /><sequenceFlow id=" |
