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What Is SEC Form D?

SEC Form D, also known as Reg Dex or Reg D, is required for companies and funds offering and selling securities without registration under the Securities Act of 1933 in accordance with an exemption under Rule 504, 505 or 506 of Regulation D or Section 4(6) of that statute. The form must be filed within 15 days after the first sale of securities. 

SEC Form D comprises brief information about the company, its executive officers and stock promoters, the amount and value of the securities sold and the date of first sale. The form is intended to prevent fraud in the sale of the offered securities by requiring significant information on those securities be made easily accessible to investors. 

A number of SEC Form D filings are made by startups raising capital through venture capital and angel investors as well as certain pooled investment funds. 

Form D is filed in XML format and must be filed using the SEC’s EDGAR (Electronic Data Gathering, Analysis and Retrieval) system. Once the Form D submission has been accepted, it can be accessed by the general public via SEC.gov.

 

How Can Merrill Help?

With nearly 50 years of global regulatory experience, and as one of the first companies to actively engage with the XBRL filing program, Merrill is uniquely qualified to help filers worldwide successfully navigate ever-changing global compliance requirements. With Merrill, you can manage regulatory disclosures with absolute security, precision and accuracy.

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