NASAA Adds Guam, Adopts New Rules

Guam’s Department of Revenue and Taxation had requested to join the association. It is the first new NASAA member since 2005, when the U.S. Virgin Islands joined, the group said.

“Guam’s admission to NASAA opens the door for Guam’s eventual participation in the CRD, IARD, and EFD systems, which will simplify and streamline the registration of securities professionals and securities filings in the territory once that process is complete,” Hartnett said.

The amended Form U-1 will require issuers to agree to deliver certain proxy solicitation materials to states within two business days after submitting them to the Securities and Exchange Commission, NASAA said.

The requirement “will give state securities regulators visibility into shareholder proposals that pose potential investor protection risks,” said Bill Beatty, chair of NASAA’s Corporation Finance Section, in a statement.

The amended Form U-1 will be posted to NASAA’s website and made available for use by NASAA members and filers soon, the group said.